TechFlow News: On April 17, according to The Block, the Russia-linked cryptocurrency exchange Grinex suspended withdrawals and trading on Thursday following a hack that resulted in losses of approximately $15 million.
Blockchain analytics firm Elliptic stated that the stolen funds consisted of USDT, which were subsequently moved across the Tron and Ethereum networks and exchanged for TRX and ETH to reduce the risk of being frozen by Tether.
Grinex reported that its wallet infrastructure suffered a “large-scale cyberattack,” with losses exceeding 1 billion rubles—approximately $13.1 million. Reports indicate Grinex is widely regarded as one of the successor platforms to the sanctioned exchange Garantex, which U.S. authorities targeted last year for facilitating hundreds of millions of dollars in illicit fund flows.
