A prominent cryptocurrency exchange, Grinex, has temporarily ceased operations after falling victim to a sophisticated cyber attack, resulting in the theft of approximately $13 million. The attack, which the exchange believes to be state-sponsored, was announced via its Telegram channel and official website. According to Grinex, the nature and coordination of the attack suggest the involvement of state-backed entities from 'unfriendly states.' The exchange stated, 'The digital footprint and characteristics of the attack imply an unprecedented level of resources and technology, typically available only to the structures of unfriendly states.' Preliminary data indicates that the attack aimed to directly compromise Russia's financial sovereignty.
Grinex, formerly known as Garantex, was sanctioned by the US, UK, and EU last year for allegedly aiding users in circumventing restrictions through a ruble-backed stablecoin called A7A5. This token enabled cross-border transactions when Russia's access to the Swift inter-bank messaging system was suspended due to its invasion of Ukraine. After being shut down, the platform re-emerged as Grinex.
The trading pause has left users unable to access their funds while the company conducts an investigation. Additionally, access to its Moscow office has been restricted. Grinex has released a list of 54 affected wallet addresses, with most of the stolen funds being in the form of USDT on the TRON blockchain.