A prominent cryptocurrency exchange, Grinex, has temporarily ceased operations after falling victim to a sophisticated cyber attack that resulted in the theft of approximately $13 million. The exchange, which has been a popular platform for Russian users seeking to circumvent sanctions, announced the breach on its official Telegram channel and website. According to Grinex, the attack's level of complexity and coordination suggests the involvement of state-sponsored actors from hostile nations. The exchange stated that the digital evidence and nature of the attack indicate an unprecedented level of resources and technology, typically only available to unfriendly state structures.
Preliminary data suggests that the attack was orchestrated to deliberately undermine Russia's financial sovereignty. Grinex, previously known as Garantex, was sanctioned by the US, UK, and EU last year for allegedly enabling users to bypass restrictions through a ruble-backed stablecoin called A7A5. This token facilitated cross-border payments after Russia's access to the Swift inter-bank messaging system was severed due to its invasion of Ukraine.
Following the sanctions, the platform re-emerged as Grinex. The trading suspension 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, with most of the stolen funds being in the form of USDT on the TRON blockchain.