Russian Exchange Grinex Suspends Trading Following $13M Hack
Grinex, a cryptocurrency exchange operating in Russia, has paralyzed its activities after reporting an alleged cyberattack that resulted in the loss of more than $13 million (over 1 billion rubles). The company attributed the authorship of the incident to “foreign agencies,” introducing a strong geopolitical component to the event, although without providing public evidence at this time. According to the firm’s monitoring, the stolen funds were quickly converted to TRX and sent to a single address that concentrates millions of tokens.
This event is a harsh financial blow for Grinex, forcing the closure of transactions, withdrawals, and even operational access to its office in Moscow City; furthermore, it reactivates the controversy over its identity. Analysis firms such as TRM Labs maintain that Grinex could be a rebranding of Garantex, a previously sanctioned exchange, based on the temporal proximity of its appearance, nearly identical infrastructure, and detected liquidity transfers. The market cautiously observes how this event affects the already tense Russian crypto industry.
Currently, Grinex maintains a maintenance notice on its website and claims to be collaborating with authorities to initiate criminal proceedings, focusing on tracking the TRX assets. Despite the severity, platform representatives stated they “have no plans to close,” although operational recovery will depend on the investigation and the restoration of trust. This case highlights the technical and regulatory risks to which exchanges remain exposed in environments of high geopolitical complexity.
Source:https://goo.su/5GywI
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Filed under: News - @ April 16, 2026 10:21 pm