A prominent cryptocurrency exchange, Grinex, has halted all operations after falling victim to a sophisticated cyber attack that resulted in the theft of approximately 1 billion rubles, equivalent to $13 million. The breach was disclosed by the exchange through its official Telegram channel and website, with indications suggesting the involvement of state-sponsored entities from hostile nations. According to Grinex, the nature and scale of the attack imply an unprecedented level of technological expertise and resources, typically associated with state-backed actors.
The exchange stated, 'Preliminary data suggests that the attack was coordinated to directly impact Russia's financial sovereignty.' Grinex, originally operating as Garantex, was sanctioned by the US, UK, and EU due to its alleged role in helping users circumvent restrictions through a stablecoin called A7A5. This stablecoin enabled cross-border transactions after Russia's access to the Swift banking system was restricted following its invasion of Ukraine.
After being shut down, the platform reemerged as Grinex. The temporary suspension of trading activities has left users without access to their funds, pending an investigation. Additionally, access to the company's Moscow office has been restricted. Grinex has released a list detailing 54 affected wallets and the corresponding amounts stolen, with the majority being in USDT on the TRON blockchain.