A prominent cryptocurrency exchange, Grinex, has halted all operations after falling victim to a sophisticated cyber attack, resulting in the theft 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. According to Grinex, the nature and scale of the attack suggest the involvement of state-sponsored actors from hostile nations.
The exchange stated that the attack's digital footprint and level of technical expertise indicate an unprecedented level of resources, typically only available to state-backed entities. Grinex, which was previously sanctioned by the US, UK, and EU for its role in helping users evade restrictions, claimed that the attack was designed to directly undermine Russia's financial sovereignty. The sanctions were imposed due to the exchange's alleged use of a ruble-backed stablecoin, known as A7A5, to facilitate cross-border transactions and circumvent restrictions.
Following the suspension of its operations, users are currently unable to access their funds, and the company's Moscow office has been closed pending an investigation. Grinex has released a list of 54 affected wallet addresses, with the majority of the stolen funds being in the form of USDT on the TRON blockchain.