CRYPTO CRIME | Russian-Linked Exchange Attacked by ‘Western Intelligence Agencies’ Loosing ~$14 Million

Russia-linked cryptocurrency exchange, Grinex, has suspended trading after a cyberattack led to the loss of roughly 1 billion Rubles in digital assets, the company said.

The exchange, which is registered in Kyrgyzstan and has previously been linked to Russia’s crypto ecosystem, said the total amount of damage incurred was 13,740,000 USDT stolen from dozens of addresses in what it described as a highly sophisticated attack.

Grinex said the “digital footprint” of the breach pointed to an operation requiring significant resources, alleging possible involvement of foreign state-backed actors, though it did not provide evidence for the claim.

The digital footprint and nature of the attack indicate an unprecedented level of resources and technology, accessible only to entities of hostile states. According to preliminary data, the attack was coordinated with the aim of directly harming Russia’s financial sovereignty.

“From the very beginning, the exchange’s infrastructure has been subject to attacks,” said a Grinex spokesperson.

“We have documented systematic attempts to restrict the transfer of cryptocurrency outside the CIS: the exchange was placed on sanctions lists, crypto wallets were deliberately targeted, and transactions were blocked.

Today, attempts to destabilize the domestic financial sector have reached a new level – the direct theft of assets from Russian citizens and companies using complex cyberattacks.”

Due to the attack, the Grinex exchange has been forced to suspend operations. All available information has been transferred to law enforcement agencies. A criminal complaint has been filed at the location of the infrastructure.

The platform has faced scrutiny from Western authorities over alleged links to sanctions evasion and money laundering, and has been viewed by analysts as a successor to the previously sanctioned Garantex exchange.

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About Grinex

Grinex is a leading crypto-ruble exchange licensed under CIS law.

It focuses on business operations and investments for Russian-speaking users. In 2025, the exchange gained access to the client base and infrastructure of Garantex, a crypto exchange blocked by foreign intelligence agencies, and participated in the return of over 2.5 billion rubles worth of cryptocurrency to users, previously blocked by Tether, the issuer of USDT.

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