A prominent cryptocurrency exchange, Grinex, which caters to Russian users seeking to circumvent sanctions, has temporarily ceased operations due to a substantial cyber attack that resulted in the theft of approximately 1 billion rubles, equivalent to $13 million. The exchange, headquartered in Kyrgyzstan, announced the breach via its Telegram channel and official website, suggesting that the sophistication and coordination of the attack imply the involvement of state-sponsored entities from 'hostile nations.' According to Grinex, preliminary analysis indicates that the attack was designed to compromise Russia's financial autonomy. The exchange had been sanctioned by the US, UK, and EU last year for allegedly enabling users to bypass restrictions through a ruble-backed stablecoin.
As a result of the hack, users are currently unable to access their funds, and the company's Moscow office has been closed for investigation. A list of 54 affected wallets and the corresponding drained amounts has been published by Grinex, with most of the stolen funds being in the form of USDT on the TRON blockchain.