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Grinex, a Kyrgyzstan-registered crypto exchange linked to Russia and sanctioned by the U.S., U.K. and EU, suspended operations after suffering a cyber heist that stole roughly 1 billion roubles (about $13.1 million) in mid-April 2026.
Blockchain intelligence firms TRM Labs and Elliptic put the value of drained addresses at between $13.7 million and $15 million and identified about 70 linked addresses.
Analysts say much of the stolen USDT was rapidly swapped into TRX or ETH to reduce the chance of freezing by Tether.
TokenSpot, a separate Kyrgyz exchange with on-chain ties to Grinex, was also disrupted but lost only a small amount.
Grinex accused “western intelligence” agencies of orchestrating the attack and said preliminary findings indicate the operation aimed to damage Russia’s financial sovereignty; those claims have not been independently verified.
U.S. authorities previously sanctioned Grinex as a rebrand of Garantex, which U.S. Treasury accused of laundering illicit proceeds.
Grinex has reported the incident to law enforcement and shared wallet data publicly.







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