A prominent cryptocurrency exchange, Grinex, has halted all operations after falling victim to a sophisticated cyber attack that resulted in the theft of approximately 1 billion rubles, equivalent to $13 million. The breach was disclosed by the exchange through its official Telegram channel and website, with indications suggesting the involvement of state-sponsored actors from hostile nations. According to Grinex, the attack's complexity and coordination imply an unprecedented level of technological capabilities, typically reserved for state-affiliated entities. The exchange stated, 'Preliminary data suggests that the attack was orchestrated to directly undermine Russia's financial autonomy.' Grinex, originally operating as Garantex, was sanctioned by the US, UK, and EU last year for allegedly assisting users in circumventing restrictions via a ruble-pegged stablecoin called A7A5.
This stablecoin enabled cross-border transactions after Russia's access to the Swift messaging system was severed due to its invasion of Ukraine. Following the sanctions, the platform re-emerged under the name Grinex.
The temporary suspension of trading activities has left users without access to their funds, pending an investigation. Additionally, access to the company's Moscow office has been restricted. Grinex has released a list of 54 affected wallets, detailing the amounts stolen, with the majority being in USDT on the TRON blockchain.