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 was previously sanctioned by the US, UK, and EU for its alleged role in helping users circumvent restrictions, announced the breach on its official Telegram channel and website.
According to Grinex, the attack exhibited a high level of coordination and technical expertise, suggesting the involvement of state-sponsored actors from 'hostile nations.' The exchange stated that preliminary data indicates the attack was designed to directly undermine Russia's financial autonomy. Grinex, formerly known as Garantex, was initially sanctioned for its purported role in enabling users to bypass restrictions through a ruble-backed stablecoin called A7A5. This stablecoin allowed for cross-border transactions when Russia's access to the Swift inter-bank messaging system was suspended due to its invasion of Ukraine.
Following the sanctions, the platform re-emerged 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 released a list of 54 affected wallet addresses, with most of the stolen funds being in the form of USDT on the TRON blockchain.