A prominent cryptocurrency exchange, Grinex, has temporarily ceased operations after falling victim to a sophisticated cyber attack that resulted in the theft of approximately $13 million. The exchange, which has been linked to Russia, announced the breach on its official Telegram channel and website, attributing the attack to state-backed entities from 'hostile nations.' According to Grinex, the nature and scale of the attack suggest an 'unprecedented level of resources and technology' that is typically reserved for 'structures of unfriendly states.' The exchange stated that preliminary data indicates the attack was orchestrated to directly compromise Russia's financial autonomy. Grinex, formerly known as Garantex, was sanctioned by the US, UK, and EU last year for allegedly aiding users in circumventing restrictions through a ruble-pegged stablecoin called A7A5.
This token enabled cross-border transactions after Russia's access to the Swift interbank messaging system was severed due to its invasion of Ukraine. Following the sanctions, the platform re-emerged as Grinex. The trading pause has left users 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.