A prominent cryptocurrency exchange, Grinex, which has been popular among Russian users seeking to circumvent sanctions, has temporarily halted its operations after falling victim to a large-scale cyber attack. The breach, which resulted in the theft of approximately 1 billion rubles ($13 million), was disclosed by the exchange on its official Telegram channel and website. According to Grinex, the sophistication and coordination of the attack suggest the involvement of state-sponsored actors from hostile nations. The exchange's statement noted that the 'digital fingerprints' and nature of the attack imply an unprecedented level of resources and technological capabilities, typically available only to state-backed entities.
It is believed that the primary objective of the attack was to directly compromise Russia's financial autonomy. Grinex, which was previously sanctioned by the US, UK, and EU for its alleged role in helping users bypass restrictions through a ruble-backed stablecoin called A7A5, has published a list of 54 affected wallet addresses and the corresponding amounts that were drained, with most of the stolen funds being in the form of USDT on the TRON blockchain. The suspension of trading activities has left users unable to access their funds, and the company's Moscow office has also been closed off as it investigates the incident.