A prominent cryptocurrency exchange, Grinex, has suspended its services after falling victim to a sophisticated cyber attack that resulted in the theft of approximately $13 million. The exchange, which has ties to Russia and was previously known as Garantex, 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 the 'digital footprints and nature of the attack indicate an unprecedented level of resources and technology available exclusively to the structures of unfriendly states,' and that the attack was likely intended to undermine Russia's financial sovereignty. Grinex had previously been sanctioned by the US, UK, and EU for its role in helping users circumvent restrictions through a ruble-backed stablecoin called A7A5. The stablecoin enabled cross-border transactions after Russia's access to the Swift inter-bank messaging system was restricted following its invasion of Ukraine. After being shut down, the platform re-emerged as Grinex.
The temporary halt in trading 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 and the corresponding amounts that were drained, with most of the stolen funds being in the form of USDT on the TRON blockchain.