A prominent cryptocurrency exchange, Grinex, recently halted all operations after falling victim to a sophisticated cyber attack that resulted in the theft of approximately $13 million. The exchange, which has been linked to Russia and is based in Kyrgyzstan, made the announcement on its official Telegram channel and website, stating that the attack exhibited a high level of coordination and technical expertise, suggesting the involvement of state-sponsored actors from 'hostile nations.' According to Grinex, preliminary data indicates that the attack was a deliberate attempt to undermine Russia's financial independence. The exchange had previously been sanctioned by the US, UK, and EU for its alleged role in helping users circumvent restrictions through a ruble-backed stablecoin called A7A5.
This stablecoin enabled cross-border transactions after Russia's access to the Swift inter-bank messaging system was severed following its invasion of Ukraine. After being shut down, 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 company has released a list of 54 affected wallet addresses, along with the corresponding amounts that were drained, with most of the stolen funds being in the form of USDT on the TRON blockchain.