A prominent cryptocurrency exchange, Grinex, has temporarily ceased operations after falling victim to a significant cyber attack, resulting in the loss of approximately $13 million. The exchange, which has been linked to Russia and is based in Kyrgyzstan, made the announcement via its Telegram channel and website. According to Grinex, the attack's sophistication and level of coordination suggest the involvement of state-backed entities from 'unfriendly nations.' The exchange stated, 'Preliminary data indicates that the attack was orchestrated to directly target Russia's financial autonomy, with the digital footprints and nature of the attack implying an unprecedented level of resources and technology, typically available only to the structures of unfriendly states.' Grinex, formerly known as Garantex, was sanctioned by the US, UK, and EU last year for its alleged role in helping users circumvent restrictions through a ruble-backed stablecoin called A7A5.
This token enabled cross-border transactions after 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 suspension of trading activities has left users unable to access their funds, and the company's Moscow office has been closed off while an investigation is conducted.
A list of 54 affected wallet addresses and the corresponding drained amounts has been published by Grinex, with most of the losses occurring in USDT on the TRON blockchain.