A prominent cryptocurrency exchange, Grinex, has temporarily halted its operations after reporting a significant cyberattack that resulted in the theft 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, attributing the attack to state-backed entities from 'hostile nations'. According to Grinex, the sophistication and scale of the attack suggest the involvement of well-resourced and technologically advanced actors. The exchange had previously been sanctioned by the US, UK, and EU for allegedly enabling users to circumvent restrictions through the use of a ruble-backed stablecoin called A7A5.
This token allowed for cross-border transactions even after Russia's access to the Swift inter-bank messaging system was suspended due to its invasion of Ukraine. Following the sanctions, the platform re-emerged as Grinex. The current pause in trading has left users unable to access their funds, and the company's Moscow office has been closed as it conducts an investigation. A list of 54 affected wallet addresses and the corresponding drained amounts has been published by Grinex, with the majority of the stolen funds being in the form of USDT on the TRON blockchain.