Russia-Linked Exchange Grinex Suspends Operations After $15M Hack
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Summary
BroadChain learned that Grinex — a Kyrgyzstan-registered exchange linked to Russia's crypto market — suspended withdrawals and trading following a major cyberattack on April 17 at 18:16. According to a statement on the exchange’s website, over 1 billion rubles (approximately $13.1 million) were stolen, and the attack was attributed to a 'coordinated operation aimed at undermining Russia’s financial sovereignty,' requiring resources and technology from 'hostile nations.' Blockchain analytics firm Elliptic noted that suspected attackers stole approximately $15 million worth of USDT from Grinex-associated wallets, subsequently transferring and swapping the funds via the TRON and Ethereum networks.
BroadChain has learned from PANews that on April 17 at 18:16, Grinex—a cryptocurrency exchange registered in Kyrgyzstan with ties to the Russian crypto market—halted withdrawals and trading after a major cyberattack. According to a statement on its website, over 1 billion rubles (roughly $13.1 million) were stolen. The exchange described the incident as a “coordinated operation aimed at undermining Russia’s financial sovereignty,” suggesting it involved resources and technology from “hostile nations.”
Blockchain analytics firm Elliptic reported that the suspected attackers stole about $15 million worth of USDT from wallets linked to Grinex. The funds were later moved and swapped for TRX and ETH via the TRON and Ethereum networks—a likely attempt to evade potential asset freezes by Tether.
Grinex is widely seen as the successor to the previously sanctioned exchange Garantex. After Garantex was shut down, Grinex absorbed its liquidity and user base, emerging as a key platform for RUB-to-crypto trading.