The crypto exchange Grinex, through which Russia bypasses sanctions, reported an “attack by Western...

The crypto exchange Grinex, through which Russia bypasses sanctions, reported an “attack by Western intelligence services”

The crypto exchange Grinex said it would suspend operations amid a large-scale cyberattack “showing signs of involvement by foreign intelligence services.”

As a result of the hack, the exchange said, funds belonging to Russian users worth more than one billion rubles were stolen from crypto wallets.

“The digital traces and nature of the attack indicate an unprecedented level of resources and technologies available exclusively to structures of unfriendly states,” representatives of Grinex said.

Grinex calls itself a “leading crypto exchange” that provides “settlements between Russian businesses and citizens.”

The platform appeared in Kyrgyzstan in early 2025. At the same time, it launched trading in the A7A5 stablecoin, which is pegged to the ruble and backed by deposits at the sanctioned Promsvyazbank.

The anti-corruption organization Transparency International Russia called Grinex a reincarnation of the Garantex exchange. That platform was under Western sanctions for cooperating with criminals from various countries, and after the start of Russia’s full-scale war against Ukraine it began to be used as a tool for circumventing financial restrictions.

@meduzalive