A prominent cryptocurrency exchange, Grinex, has temporarily ceased operations after reporting a significant cyber attack that resulted in the theft of approximately $13 million. The exchange, which has been linked to Russia and was previously known as Garantex, announced the breach on its official Telegram channel and website. According to Grinex, the attack exhibited a high level of sophistication and coordination, suggesting the involvement of state-sponsored actors from hostile nations.
The exchange stated that the digital evidence and nature of the attack imply an unprecedented level of resources and technological capabilities, typically only available to state-backed entities. Grinex alleged that the attack was designed to deliberately undermine Russia's financial independence. 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-backed stablecoin called A7A5. This token enabled cross-border transactions after Russia's access to the Swift banking network was severed due to its invasion of Ukraine.
Following the sanctions, the platform re-emerged under the name Grinex. As a result of the current hacking incident, users are currently unable to access their funds while the company conducts an investigation. Furthermore, access to Grinex's Moscow office has been restricted.
The exchange has released a list of 54 affected wallet addresses, along with the corresponding amounts that were drained, with the majority being in the form of USDT on the TRON blockchain.