A prominent cryptocurrency exchange, Grinex, has suspended its services after reporting a major cyber attack that resulted in the theft of approximately $13 million. The exchange, which operates from Kyrgyzstan and has been linked to Russia, attributed the sophisticated attack to state-backed entities from hostile nations. Grinex made the announcement via its Telegram channel and official website, stating that the breach demonstrated a high level of coordination and technical expertise, hinting at the involvement of 'unfriendly states.' The exchange had previously been sanctioned by the US, UK, and EU 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 banking system was severed due to its invasion of Ukraine.
Following the sanctions, the platform re-emerged as Grinex. The temporary halt in trading has left users without access to 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 and the corresponding amounts stolen, with most of the losses occurring in USDT on the TRON blockchain.