A prominent cryptocurrency exchange, Grinex, has halted all operations after falling victim to a sophisticated cyber attack that resulted in the theft of approximately $13 million. The exchange, which was formerly known as Garantex and operates out of Kyrgyzstan, made the announcement via its Telegram channel and official website. According to Grinex, the nature and scale of the attack suggest the involvement of state-sponsored actors from hostile nations. In a statement, Grinex noted that the 'digital fingerprints' and methodology of the attack imply an 'unprecedented level of resources and technology, typically available only to the structures of unfriendly states.' The exchange believes the attack was orchestrated to directly undermine Russia's financial autonomy.
Grinex itself has been the subject of sanctions imposed by the US, UK, and EU, due to its alleged role in enabling users to circumvent restrictions through the use of a ruble-backed stablecoin called A7A5. This token facilitated cross-border transactions at a time when Russia's access to the Swift international banking network was suspended following its invasion of Ukraine.
After being shut down, the platform re-emerged under the name Grinex. As a result of the trading pause, users are currently unable to access their funds while the company conducts an investigation. Additionally, access to Grinex's Moscow office has been restricted. The exchange has published a list of 54 affected wallet addresses, along with the corresponding amounts that were drained, with the majority being in the form of USDT on the TRON blockchain.