Gate News message, April 17 — Grinex, a Kyrgyzstan-registered crypto exchange with ties to Russia’s crypto market, suspended all trading and withdrawals on April 17 following a large-scale cyberattack on its wallet infrastructure. The exchange reported losses of approximately 1 billion rubles, or about $13.1 million, though blockchain analysts estimate the true loss closer to $15 million, primarily in stablecoins.
Grinex described the attack as highly advanced, requiring sophisticated tools and resources, suggesting possible involvement of organized or state-level actors. The stolen assets were rapidly moved across multiple wallets and subsequently converted and consolidated to a single address. The exchange has reported the incident to law enforcement and is working to assess damage and secure remaining assets.
Grinex attributed the attack to broader pressure on the Russian financial system, claiming it was part of a larger pattern targeting regional financial activity amid sanctions and transaction restrictions. However, these assertions have not been independently verified. The incident highlights ongoing security risks facing centralized exchanges in geopolitically sensitive regions.
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