Garantex Successor Grinex Collapses Days After Coordinated Wallet Exploit

Garantex Successor Grinex Collapses Days After Coordinated Wallet Exploit

Grinex, a sanctioned crypto exchange serving Russian businesses and individual users, said it was hit by a large-scale cyberattack that resulted in the theft of funds worth more than 1 billion rubles from its users’ wallets.
The exchange described the incident as a targeted operation and claimed there were indications of involvement by foreign intelligence agencies. It said the technical footprint and scale of the attack suggested the use of advanced resources typically available to state-backed actors.
Following the breach, Grinex suspended its operations.
Laundering Route Exposed
In its official update, the exchange revealed that all relevant information has been handed over to law enforcement authorities. A criminal complaint has also been filed at the location of its infrastructure. Grinex stated the attack led to total damages estimated at around 13.74 million USDT.
Blockchain analytics firm TRM Labs reported around 70 addresses connected to the hack, which is about 16 more than

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