A prominent cryptocurrency exchange, Grinex, has halted all operations after revealing that it was targeted by a sophisticated cyber attack, resulting in the theft of approximately 1 billion rubles, equivalent to $13 million. The exchange, which was formerly known as Garantex and is based in Kyrgyzstan, made the announcement on its Telegram channel and website, stating that the attack's level of coordination and technical expertise suggests the involvement of state-sponsored actors from 'hostile nations.' The statement from Grinex notes, 'The digital trail and nature of the attack imply an unprecedented level of resources and technology, typically only available to the structures of unfriendly states.' According to preliminary findings, the attack was orchestrated to directly undermine Russia's financial independence. Grinex had been sanctioned by the US, UK, and EU last year for allegedly assisting users in circumventing restrictions through the use of a ruble-backed stablecoin called A7A5. This token enabled cross-border transactions after Russia's access to the Swift inter-bank messaging system was severed due to its invasion of Ukraine.
Following the sanctions, the platform re-emerged as Grinex. The temporary suspension of trading activities 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, along with the corresponding amounts that were drained, with the majority being in the form of USDT on the TRON blockchain.