US EditionRussia-Linked Grinex Exchange Halts Operations After $13 Million ‘State-Backed’ Hack
Grinex said foreign intelligence agencies orchestrated the breach, and the stolen funds were converted into TRX before the exchange filed a police report.
- Grinex, a Russian cryptocurrency exchange, suspended operations recently after losing over 1 billion rubles in a massive cyberattack it claims was orchestrated by foreign intelligence agencies.
- Launched in 2025 following authorities' crackdown on Garantex, Grinex became a crucial tool for Russian sanctions evasion, with its associated A7A5 stablecoin reaching $100 billion in turnover by early 2026.
- According to the exchange, stolen funds were rapidly converted into approximately 45.9 million TRX, currently valued at around $15 million, while officials alleged the attack aimed to damage Russian financial sovereignty.
- Following the breach, Grinex filed a formal police report and replaced its website with a maintenance message, citing technical work to improve platform quality and stability.
- The European Union is preparing a blanket ban on all cryptocurrency transactions connected to Russia to close off remaining sanctions evasion channels, building on existing Western and British sanctions against Grinex.
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The Grinex Kryptobirge announced that it would suspend work against the backdrop of a large-scale cyber attack "with signs of foreign intelligence involvement", reported on the site's television channel on 16 April.
Russian Sanctions-Evasion Crypto Exchange Suspends Operations After $13M Cyberattack
Grinex, a Russian cryptocurrency exchange utilized heavily for sanctions evasion, has suspended operations after losing over 1 billion rubles ($13 million) in what it claims was a massive cyberattack orchestrated by foreign intelligence agencies, The Moscow Times reported on April 16. “Digital footprints and the nature of the attack indicate an unprecedented level of resources and technologies available exclusively to the structures of unfriendl…
Crypto hack goes political as Grinex blames 'Western special services'
Grinex, a sanctioned Kyrgyzstan-registered crypto exchange, has disclosed a hack of over one billion rubles. In an announcement posted to the exchange’s official Telegram channel, the “targeted attack” was attributed to “Western special services,” and is aimed at “causing direct damage to Russia’s financial sovereignty.” The loss sees Grinex “forced to suspend its operations.” It says “attempts to destabilize the domestic financial sector have r…
Russia's Grinex Exchange Halts Trading After $15M Attack
A major crypto disruption has hit the market after Grinex suspended all trading and withdrawals. The exchange has ties to the Russian crypto ecosystem. It reported a large scale cyberattack on its wallet systems. Russia Linked Crypto Exchange Grinex Halts All Trading After $15M HackGrinex, a Kyrgyzstan-registered crypto exchange with close ties to Russia’s crypto market has suspended all withdrawals and trading. It cited a large scale cyberattac…
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