A prominent cryptocurrency exchange, Grinex, has temporarily ceased operations after falling victim to a sophisticated cyber attack, resulting in the theft of approximately 1 billion rubles, equivalent to $13 million. The breach was disclosed by the exchange via its Telegram channel and an official statement on its website, attributing the attack to state-sponsored actors from 'hostile nations' due to the high level of coordination and technical expertise involved.
According to Grinex, preliminary data suggests the attack was intentionally designed to undermine Russia's financial autonomy. The exchange, originally operating as Garantex, was sanctioned by the US, UK, and EU last year for allegedly facilitating the circumvention of 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 restricted following its invasion of Ukraine.
Following the sanctions, the platform re-emerged as Grinex. The current 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.
A list of 54 affected wallet addresses, along with the corresponding drained amounts, has been published by the exchange, with most of the stolen funds being in the form of USDT on the TRON blockchain.