Russia-linked crypto exchange Grinex halts trading after $14M hack

Grinex has been accused by US authorities of assisting Russia and other entities in evading sanctions and laundering funds for Russia-linked hackers.

Sanctioned crypto exchange Grinex said it has suspended trading after losing more than 1 billion Russian rubles ($13.7 million) to an attack bearing signs of involvement by foreign intelligence agencies.

The exchange, which is registered in Kyrgyzstan but has been linked to Russia’s crypto ecosystem and alleged sanctions evasion, said on Thursday that the funds were taken from 54 addresses and that the digital footprint and nature of the attack indicate an “unprecedented level of resources and technology available only to entities of hostile states.”

“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,” it added.

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