Cryptocurrency Exchange Grinex Suspends Operations Following $13 Million Cyber Heist

A prominent cryptocurrency exchange, Grinex, has temporarily halted its services after falling victim to a sophisticated cyber attack that resulted in the theft of approximately $13 million. The exchange, which was previously known as Garantex and is based in Kyrgyzstan, made the announcement via its Telegram channel and official website. According to Grinex, the nature and coordination of the attack suggest the involvement of state-sponsored actors from hostile nations. The exchange stated, 'The digital trail and characteristics of the attack imply an extraordinary level of resources and technological capabilities, typically exclusive to the structures of unfriendly states.' Preliminary findings indicate that the attack was orchestrated to directly undermine Russia's financial autonomy. Grinex, which was initially sanctioned by the US, UK, and EU for aiding users in circumventing restrictions through a ruble-backed stablecoin called A7A5, has published a list of 54 affected wallets and the corresponding amounts stolen, with most of the losses occurring in USDT on the TRON blockchain. The suspension of trading operations has left users unable to access their funds while the company conducts an investigation. Additionally, access to Grinex's Moscow office has been restricted.