Cryptocurrency Exchange Grinex Suspends Operations Following $13 Million Cyber Attack

A prominent cryptocurrency exchange, Grinex, has temporarily ceased operations due to a substantial cyber attack resulting in the loss of approximately $13 million. The exchange, which operates from Kyrgyzstan, announced the breach via its Telegram channel and official website, suggesting that the attack's sophistication and coordination imply the involvement of state-sponsored entities from hostile nations. According to Grinex, preliminary analysis indicates that the attack was designed to directly impact Russia's financial autonomy. The exchange had been subject to sanctions by the US, UK, and EU due to its role in assisting users in circumventing restrictions through the use of a ruble-backed stablecoin. As a result of the hack, users are currently unable to access their funds, and the company's Moscow office has been closed while an investigation is conducted. A list of affected wallets and the corresponding drained amounts has been published by Grinex.