US-sanctioned crypto exchange Grinex claims Western states behind $15M hack
Original: US-sanctioned currency exchange says $15 million heist done by "unfriendly states"
Why This Matters
Highlights ongoing cyber warfare targeting Russia-linked financial infrastructure
Grinex, a US-sanctioned cryptocurrency exchange registered in Kyrgyzstan, halted operations after a $15 million theft it attributes to 'western special services.' The exchange processes Russian ruble-to-crypto transactions worth over $6 billion total.
Grinex, sanctioned by the US Treasury as a rebrand of Garantex, experienced a $15 million cryptocurrency theft affecting roughly 70 addresses. The exchange claims 'western special services' conducted the attack with 'unprecedented level of resources' targeting Russian users. Research firms TRM and Elliptic confirmed the theft but haven't verified Grinex's attribution claims. TokenSpot, another Kyrgyzstan-based exchange linked to Grinex, was also breached with funds sent to the same consolidation address. TRM assessed this was likely an external cyber operation rather than an exit scam, citing the indiscriminate targeting and relatively low amount stolen. Grinex processes over $6 billion in Russian ruble-to-cryptocurrency transactions and has been under constant attack attempts since incorporating 16 months ago.