Grinex, a digital currency platform popular among Russians seeking to circumvent sanctions, has halted operations after reporting a major cyber attack that resulted in the theft of approximately 1 billion rubles ($13 million) from its systems. The breach was disclosed by the platform via its Telegram channel and an official statement on its website, attributing the attack to state-sponsored actors from 'hostile nations' due to its sophisticated nature and level of coordination. According to Grinex, preliminary data suggests the attack aimed to directly undermine Russia's financial autonomy. The exchange, originally known as Garantex, was sanctioned by the U.S., U.K., and European Union last year for allegedly helping users bypass restrictions through a ruble-backed stablecoin called A7A5, which enabled cross-border transactions after Russia's access to the Swift inter-bank messaging system was severed following its invasion of Ukraine.
The platform later re-emerged as Grinex. The trading suspension has left users without access to their funds while the company conducts an investigation.
Additionally, access to its Moscow office has been restricted. A list of 54 affected wallet addresses and the corresponding drained amounts, primarily in USDT on the TRON blockchain, has been published by Grinex.