Grinex Exchange Loses Over $13 Million in Alleged Foreign Spy Attack

The Russian crypto industry has suffered a serious incident. Grinex, a crypto exchange that facilitates payments for businesses and individuals, announced a major hack.

According to the company’s official data , the amount of stolen funds exceeded 1 billion rubles, translating to over $13 million.

Details of the incident

In an official statement, the platform’s representatives described the incident as a targeted attack by foreign agencies.

The company emphasizes that the nature of the hack and the resources involved indicate the involvement of foreign government entities seeking to attack the Russian financial system.

According to monitoring data, the stolen assets were converted into TRX cryptocurrency through exchange services and transferred to a single address.

This wallet currently holds approximately 45.9 million TRX, equivalent to approximately $15 million.

Due to a cyberattack, Grinex’s operations have been completely suspended. A notice about maintenance has been posted on the website, and account transactions and withdrawals are unavailable.

Restrictions have also been placed on physical presence: the company’s Moscow City office has suspended permit issuance.

Grinex representatives confirmed that they had previously encountered pressure, including inclusion on sanctions lists, special wallet labeling, and blocking of transactions outside the CIS. However, the company believes the current incident has escalated into outright asset theft.

Next steps

The exchange’s management has already contacted law enforcement agencies to initiate criminal proceedings. All available information regarding the technical details of the attack has been transferred to the investigation.

Currently, the primary focus remains the legal assessment of the situation and monitoring the movement of the stolen assets.

“We’re fighting back, an active investigation is underway, and we have no plans to shut down,” Grinex representatives said in response to BeInCrypto’s request for comment.

Echoes of Garantex

It’s worth noting that Grinex is under close scrutiny from international financial regulators and analytical agencies. 

According to TRM Labs , this platform is essentially a rebranding of the Garantex exchange, which was previously subject to harsh sanctions.

Researchers point out that Grinex emerged less than two weeks after Garantex’s official closure in March 2025. Analysts have documented direct transfers of liquidity in the ruble stablecoin A7A5 from the old exchange’s wallets to the new exchange’s addresses.

Furthermore, experts note the almost complete identity of the interfaces and infrastructure: according to the investigators, the wallet clusters, team, and transfer routes remained the same; only the branding has changed.

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