A prominent cryptocurrency exchange, Grinex, has suspended its operations after reporting a significant cyber attack that resulted in the theft of approximately $13 million. The exchange, which operates from Kyrgyzstan and has been linked to Russia, announced the breach via its Telegram channel and website. According to Grinex, the attack's sophistication and coordination suggest the involvement of state-backed entities from 'unfriendly nations.' The exchange stated that preliminary data indicates the attack was designed to directly harm Russia's financial independence.
Grinex has been under sanctions imposed by the US, UK, and EU due to its alleged role in helping users circumvent restrictions. The sanctions were partly due to the exchange's use of a ruble-backed stablecoin called A7A5, which enabled cross-border transactions after Russia's access to the Swift system was severed following its invasion of Ukraine.
After being shut down, the platform re-emerged as Grinex. The current pause in trading has left users without access to their funds as the company conducts an investigation.
Additionally, access to Grinex's Moscow office has been restricted. A list of 54 affected wallet addresses and the corresponding drained amounts has been published by Grinex, with most of the stolen funds being in the form of USDT on the TRON blockchain.