US Edition
US-Sanctioned Currency Exchange Says $15 Million Heist Done by "Unfriendly States"
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.
27 Articles
27 Articles
US-sanctioned currency exchange says $15 million heist done by "unfriendly states"
Grinex, a US-sanctioned cryptocurrency exchange registered in Kyrgyzstan, said it’s halting operations after experiencing a $13 million heist carried out by “western special services” hackers. Researchers from TRM, which has confirmed the theft, put the value of stolen assets at $15 million after discovering roughly 70 drained addresses, about 16 more than Grinex reported. Neither TRM nor fellow blockchain research firm Elliptic has said how the…
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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…
Chainalysis Details 'Shadow Crypto Economy' Exposure as Grinex Suspends Operations
The post Chainalysis Details ‘Shadow Crypto Economy’ Exposure as Grinex Suspends Operations appeared on BitcoinEthereumNews.com. Key Takeaways: Chainalysis flags Grinex swaps as inconsistent with typical law enforcement seizures. Tron-based conversions show illicit actors avoiding stablecoin issuer intervention. Grinex activity does not clearly align with patterns of a conventional external hack. Grinex Shutdown Raises Questions About Crypto Lau…
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