A prominent cryptocurrency exchange, Grinex, has halted all operations after falling victim to a sophisticated cyber attack that resulted in the theft of approximately $13 million. The exchange, which has been linked to Russia and is based in Kyrgyzstan, made the announcement on its Telegram channel and website, attributing the attack to state-sponsored actors from 'hostile nations'.
According to Grinex, the nature and scale of the attack suggest the involvement of state-backed entities, with the goal of undermining Russia's financial autonomy. The exchange had previously been sanctioned by the US, UK, and EU for its alleged role in helping users circumvent restrictions through a ruble-pegged stablecoin. As a result of the breach, users are currently unable to access their funds, and the company has restricted access to its Moscow office. A list of 54 affected wallets and the corresponding drained amounts has been published by Grinex, with the majority of the stolen funds being in the form of USDT on the TRON blockchain.