A prominent cryptocurrency exchange, Grinex, has suspended its services after falling victim to a substantial 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 official website.
According to Grinex, the nature and scale of the attack suggest the involvement of state-sponsored actors from hostile nations. In a statement, Grinex noted that the 'digital fingerprints' and characteristics of the attack imply an extraordinary level of resources and technological capabilities, typically reserved for state-backed entities.
The exchange believes the attack was deliberately orchestrated to undermine Russia's financial autonomy. Grinex, formerly known as Garantex, was sanctioned by the US, UK, and EU last year for allegedly assisting users in circumventing restrictions through a ruble-backed stablecoin called A7A5.
This stablecoin enabled cross-border transactions 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 under the name Grinex.
The temporary halt in trading has left users without access to their funds while the company conducts an investigation. Additionally, access to Grinex's Moscow office has been restricted.
A list of 54 affected wallet addresses, along with the corresponding drained amounts, has been published by Grinex. The majority of the drained funds were in the form of USDT on the TRON blockchain.