A prominent cryptocurrency exchange, Grinex, has suspended its services after falling prey to a sophisticated cyber attack that resulted in the theft of approximately $13 million. The exchange, which has been accused of helping Russian users circumvent sanctions, announced the breach on its official Telegram channel and website, attributing the attack to state-backed entities from hostile nations. The attack's complexity and coordination suggest the involvement of well-resourced actors. Grinex, originally named Garantex, was sanctioned by the US, UK, and EU for allegedly aiding users in evading restrictions through a ruble-backed stablecoin called A7A5.
This token enabled cross-border transactions after Russia's access to the Swift messaging system was revoked due to its invasion of Ukraine. Following the sanctions, the platform reemerged as Grinex. The temporary halt in trading has left users without access to their funds, and the company's Moscow office has been closed while an investigation is conducted.
A list of 54 affected wallets and the corresponding drained amounts, primarily in USDT on the TRON blockchain, has been released by Grinex.