A prominent cryptocurrency exchange, Grinex, has halted all operations after falling victim to a sophisticated cyber attack that resulted in the theft of approximately 1 billion rubles, equivalent to $13 million. The breach was disclosed by the exchange via its Telegram channel and an official statement on its website, suggesting that the attack was likely backed by state-sponsored actors from hostile nations. According to Grinex, the nature and scale of the attack imply an unprecedented level of technological expertise and resources, typically reserved for state-affiliated entities.
The exchange noted that preliminary data indicates the attack was deliberately orchestrated to undermine Russia's financial independence. Grinex, formerly known as Garantex, has been under sanctions imposed by the US, UK, and EU for its alleged role in enabling users to circumvent restrictions through a ruble-pegged stablecoin called A7A5.
This token allowed for cross-border transactions even after Russia's access to the Swift interbank messaging system was severed due to its invasion of Ukraine. Following the sanctions, the platform re-emerged as Grinex.
The temporary suspension of trading activities has left users without access to their funds, pending an investigation. Additionally, access to the company's Moscow office has been restricted.
Grinex has released a list detailing 54 affected wallet addresses and the corresponding amounts that were drained, with the majority being in USDT on the TRON blockchain.