A prominent cryptocurrency exchange, Grinex, has halted all operations after falling victim to a sophisticated cyberattack that resulted in the theft of approximately $13 million. The exchange, which was formerly known as Garantex and is based in Kyrgyzstan, made the announcement on its official Telegram channel and website. According to Grinex, the nature and scope of the attack suggest the involvement of state-sponsored actors from hostile nations.
In a statement, Grinex noted that the 'digital footprint and the character of the attack indicate an unprecedented level of resources and technology, available only to the structures of unfriendly states.' The exchange added that preliminary data suggests the attack was orchestrated to directly harm Russia's financial sovereignty. Grinex has been under sanctions imposed by the US, UK, and EU since last year, with officials in Washington accusing the platform of helping users circumvent restrictions through a ruble-backed stablecoin called A7A5. This token enabled cross-border transactions after Russia's access to the Swift inter-bank messaging system was severed following its invasion of Ukraine.
After being shut down, the platform re-emerged under the name Grinex. The suspension of trading activities has left users without access to their funds, and the company's Moscow office has also been inaccessible.
Grinex has released a list of 54 wallet addresses that were affected by the hack, with most of the stolen funds being in the form of USDT on the TRON blockchain.