A prominent cryptocurrency exchange, Grinex, has halted all operations after falling victim to a sophisticated cyber attack, resulting in the theft of approximately $13 million. The exchange, which was previously known as Garantex and is based in Kyrgyzstan, made the announcement on its Telegram channel and official website. According to Grinex, the nature and scale of the attack suggest the involvement of state-sponsored actors from hostile nations.
The exchange stated that the 'digital fingerprints' and methodology of the attack imply an unprecedented level of technological expertise, typically reserved for state-backed entities. Grinex believes the attack was deliberately orchestrated to undermine Russia's financial autonomy. The exchange has been under sanctions imposed by the US, UK, and EU since last year, accused of helping users circumvent restrictions through a ruble-pegged stablecoin called A7A5.
This stablecoin enabled cross-border transactions after Russia's access to the Swift international banking network was severed following its invasion of Ukraine. After being shut down, the platform re-emerged under the name Grinex. The temporary suspension of trading activities has left users without access to their funds, while the company conducts an investigation.
Additionally, access to Grinex's Moscow office has been restricted. The exchange has released a list of 54 affected wallets, detailing the amounts stolen, with the majority being USDT tokens on the TRON blockchain.