A prominent cryptocurrency exchange, Grinex, has temporarily halted its operations after disclosing a significant cyber attack that resulted in the theft of approximately 1 billion rubles, equivalent to $13 million. The exchange, which has been linked to Russia and is based in Kyrgyzstan, announced the breach via its Telegram channel and website, suggesting that the attack was likely carried out by state-sponsored actors from 'hostile nations'. According to Grinex, the nature and scale of the attack imply a high level of technical expertise and resources, typically only available to 'unfriendly state structures'. The exchange stated that preliminary data indicates the attack was deliberately designed to undermine Russia's financial autonomy.
Grinex, previously known as Garantex, was sanctioned by the US, UK, and EU last year for allegedly helping users circumvent restrictions through a ruble-backed stablecoin called A7A5. This token enabled cross-border transactions after Russia's access to the Swift messaging system was suspended due to its invasion of Ukraine. Following the sanctions, the platform re-emerged as Grinex.
The current suspension of trading activities means that users are unable to access their funds while the company conducts an investigation. Additionally, access to Grinex's Moscow office has been restricted. The exchange has released a list of 54 affected wallet addresses, with most of the stolen funds being in the form of USDT on the TRON blockchain.