A prominent cryptocurrency exchange, Grinex, has temporarily halted its services after falling victim to a sophisticated cyber attack that resulted in the theft of approximately $13 million. The exchange, which has been accused of helping Russian users circumvent sanctions, announced the breach on its official Telegram channel and website. According to Grinex, the attack's complexity and coordination suggest the involvement of state-sponsored actors from hostile nations. The exchange stated that the attack's digital footprint and nature imply an unprecedented level of resources and technology, typically reserved for state-backed entities.
Preliminary data suggests that the attack aimed to undermine Russia's financial sovereignty. Grinex, originally known as Garantex, was sanctioned by the US, UK, and EU last year for allegedly enabling users to bypass restrictions through a ruble-backed stablecoin called A7A5.
This token facilitated 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 trading pause has left users unable to access their funds while the company conducts an investigation. Additionally, access to Grinex's Moscow office has been restricted.
A list of 54 affected wallet addresses and the corresponding drained amounts has been published by Grinex, with most of the stolen funds being in the form of USDT on the TRON blockchain.