Home / Technology / Crypto Exchange Grinex Hit by $15M Heist, Halts Operations
Crypto Exchange Grinex Hit by $15M Heist, Halts Operations
18 Apr
Summary
- Grinex crypto exchange halted operations following a $15 million heist.
- Hackers allegedly targeted Russian users, aiming to damage financial sovereignty.
- TokenSpot, another Kyrgyzstan-based exchange, was also breached by the same attacker.
The cryptocurrency exchange Grinex, registered in Kyrgyzstan and sanctioned by the US, has suspended operations following a substantial heist valued at approximately $15 million. This significant breach drained numerous user addresses, with researchers confirming the theft after identifying around 70 compromised accounts.
Grinex alleges that "western special services" hackers orchestrated the attack, specifically targeting Russian users with the intent of damaging Russia's financial sovereignty. The exchange stated that it has been under near-constant attack attempts since its inception 16 months ago.
Simultaneously, TokenSpot, another exchange based in Kyrgyzstan, was also compromised, with evidence suggesting the same attacker was responsible for both breaches. TokenSpot is identified as a front for Grinex, which itself is considered a rebrand of Garantex, an exchange previously sanctioned by the US for facilitating illicit activities.
While Grinex points to state-sponsored actors, researchers have not confirmed this specific claim. They assess the incident as an external cyber operation rather than an insider exit scam, based on the value and indiscriminate nature of the attacks. Grinex has transferred all available information to law enforcement agencies.
