The cryptocurrency exchange Grinex, linked to Russia and based in Kyrgyzstan, suspended its operations on April 16 after a cyberattack resulted in the theft of assets worth approximately 1 million rubles (around $13.1 million).
According to reports from Reuters, Grinex was previously sanctioned by the United States, the United Kingdom, and the European Union last year. The exchange claims that foreign intelligence agencies from hostile nations may be behind the attack.
“Digital footprints and the nature of the attack indicate an unprecedented level of resources and technologies available only to entities from friendly states. Preliminary data suggests the attack was coordinated to directly harm the financial sovereignty of Russia,” the statement read.
Grinex stated on its website that the exchange experienced a “targeted attack by Western intelligence agencies,” resulting in the alleged theft of over 1 million rubles from Russian users. Following the incident, the company decided to cease operations.
Reuters further notes that U.S. authorities had previously accused Grinex of assisting clients in evading sanctions through the use of a stablecoin pegged to the Russian ruble. This came in the wake of Russia’s disconnection from the SWIFT system and the establishment of a complex crypto infrastructure to support external trade after the onset of the full-scale war.
Grinex, a crypto exchange tied to Russia, has halted operations after a cyberattack led to significant asset theft. The exchange alleges foreign intelligence involvement and has faced previous sanctions for facilitating evasion of financial restrictions.
Source: Reuters