A prominent cryptocurrency exchange, Grinex, has temporarily suspended its services after disclosing a major cyber attack that resulted in the theft of approximately 1 billion rubles, equivalent to $13 million. The exchange, which has been linked to Russia and is based in Kyrgyzstan, announced the breach on its official Telegram channel and website, suggesting that the attack was likely orchestrated by state-sponsored entities from hostile nations. According to Grinex, the attack demonstrated a high level of coordination and technical expertise, implying the involvement of well-resourced and sophisticated actors. The exchange stated that preliminary data indicates the attack was designed to directly undermine Russia's financial sovereignty.
Grinex, which was previously known as Garantex, has been subject to sanctions imposed by the US, UK, and EU due to its alleged role in 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 suspended following its invasion of Ukraine. After being shut down, the platform re-emerged under the name Grinex. As a result of the current pause in trading, users are currently unable to access 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 wallet addresses and the corresponding amounts that were drained, with the majority of the stolen funds being in the form of USDT on the TRON blockchain.