Russian crypto exchange Grinex reports cyberattack, losses exceed $15 million

Huoxing Finance reported that on April 17 Grinex, a Russia-linked crypto exchange, halted withdrawals and trading on Thursday after what it described as a "large-scale cyberattack." The platform said more than 1 billion rubles (about $13.1 million) was stolen. Blockchain analytics firm Elliptic estimated the losses at roughly $15 million in USDT. Investigators said the attackers swapped the stolen funds into TRX and ETH across the Tron and Ethereum networks in an apparent attempt to avoid asset freezes. Grinex has been described as a successor to sanctioned exchange Garantex, which U.S. authorities targeted last year over allegations it facilitated hundreds of millions of dollars in illicit flows.