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 official Telegram channel and website, with Grinex attributing the attack to state-sponsored actors from 'hostile nations'.
According to the exchange, the nature and scale of the attack suggest an unprecedented level of technological expertise and resources, typically reserved for state-affiliated entities. Grinex, previously known as Garantex, had been sanctioned by the United States, United Kingdom, and European Union for allegedly facilitating the circumvention of sanctions 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 restricted following its invasion of Ukraine. The exchange has since rebranded as Grinex.
As a result of the hacking incident, users are currently unable to access their funds while the company conducts an investigation. Furthermore, access to Grinex's Moscow office has been restricted. The exchange has published a list of 54 affected wallet addresses, detailing the amounts stolen, with the majority of the losses occurring in USDT on the TRON blockchain.