A prominent cryptocurrency exchange, Grinex, has halted its services after falling victim to a sophisticated cyber attack that resulted in the theft of approximately 1 billion rubles, equivalent to $13 million. The exchange, which has been a popular platform for Russian users seeking to circumvent sanctions, announced the breach on its official Telegram channel and website. According to Grinex, the attack's level of complexity and coordination suggests the involvement of state-sponsored actors from hostile nations.
The exchange stated, 'The digital evidence and nature of the attack imply an unprecedented level of resources and technology, typically available only to the structures of unfriendly states.' Preliminary data indicates that the attack was orchestrated to directly target Russia's financial autonomy. Grinex, formerly known as Garantex, was sanctioned by the US, UK, and EU last year for allegedly enabling users to bypass restrictions through a ruble-backed stablecoin called A7A5. This token facilitated cross-border transactions after Russia's access to the Swift inter-bank messaging system was severed due to its invasion of Ukraine. Following the sanctions, the platform reemerged as Grinex.
The temporary suspension of trading activities has left users unable to access their funds while the company conducts an investigation. Additionally, access to Grinex's Moscow office has been restricted.
The exchange has published 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.