A prominent cryptocurrency exchange, Grinex, has temporarily ceased operations after falling victim to a sophisticated cyber attack that resulted in the loss of approximately 1 billion rubles, equivalent to $13 million. The exchange, which has been a popular platform for Russian users seeking to circumvent sanctions, announced the breach on its official Telegram channel and website, attributing the attack to state-sponsored actors from hostile nations. According to Grinex, the nature and scope of the attack suggest an unprecedented level of resources and technological expertise, typically reserved for state-backed entities.
The exchange, which was previously sanctioned by the US, UK, and EU for its role in enabling users to bypass restrictions through a ruble-backed stablecoin called A7A5, has published a list of 54 affected wallet addresses and the corresponding amounts, primarily in USDT on the TRON blockchain. As a result of the pause in trading, users are currently unable to access their funds while the company conducts an investigation.
Additionally, access to Grinex's Moscow office has been restricted.