A prominent cryptocurrency exchange, Grinex, has temporarily ceased operations after falling victim to a sophisticated cyber attack that resulted in the theft of approximately $13 million. The exchange, which has been sanctioned by the US, UK, and EU for facilitating sanctions evasion, 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-backed entities from hostile nations. The exchange stated that preliminary data indicates the attack was designed to undermine Russia's financial autonomy.
Grinex, formerly known as Garantex, was sanctioned last year for allegedly 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 restricted following its invasion of Ukraine.
The exchange has since rebranded as Grinex. As a result of the 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 stolen, with most of the drained funds being in the form of USDT on the TRON blockchain.