A prominent cryptocurrency exchange, Grinex, has suspended its services after suffering a significant cyber attack that resulted in the theft of approximately $13 million. The exchange, which was previously known as Garantex and is based in Kyrgyzstan, announced the breach on its official Telegram channel and website. According to Grinex, the sophisticated nature of the attack suggests the involvement of state-sponsored actors from hostile nations. The exchange stated that the 'digital footprints and nature of the attack indicate an unprecedented level of resources and technology available exclusively to the structures of unfriendly states,' and preliminary data suggests the attack was designed to undermine Russia's financial sovereignty.
Grinex has been under sanctions imposed by the US, UK, and EU since last year, with officials accusing it of helping users circumvent restrictions through 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 halt in trading has left users without access to their funds, and the company's Moscow office has been closed while an investigation is conducted. A list of 54 affected wallet addresses and the corresponding drained amounts has been released by Grinex, with most of the stolen funds being in the form of USDT on the TRON blockchain.