Published by Global Banking & Finance Review®
Posted on April 16, 2026
2 min readLast updated: April 16, 2026
Add as preferred source on GoogleRussia‑linked crypto exchange Grinex, sanctioned by the U.S., UK and EU, halted operations after a cyber attack resulted in theft of roughly ₽1 billion (~$13 million). Grinex blamed “unfriendly” foreign intelligence services amid growing scrutiny over its role via A7A5 stablecoin in sanctions evasio
MOSCOW, April 16 (Reuters) - Russia-linked sanctioned crypto exchange Grinex said on Thursday it had suspended operations after assets worth 1 billion roubles ($13.10 million) were stolen during a cyber attack.
Grinex, which is based in Kyrgyzstan but linked to Russia, was sanctioned by the U.S., the UK and the European Union last year.
In a statement posted on its Telegram channel, the exchange accused "foreign intelligence services" of unfriendly states of being involved in the attack. Reuters was not able to verify this claim.
"The digital footprints and nature of the attack indicate an unprecedented level of resources and technologies available exclusively to entities of unfriendly states," the exchange said.
"According to preliminary data, the attack was coordinated with the aim of causing direct harm to Russia's financial sovereignty," it added.
The U.S. has stated that Grinex helped customers circumvent sanctions via a Russian rouble-backed stablecoin called A7A5.
Russia, which was disconnected from the international SWIFT banking system as part of Western sanctions following its military campaign in Ukraine, has developed a sophisticated crypto infrastructure to facilitate its foreign trade.
($1 = 76.3500 roubles)
(Reporting by Reuters; Writing by Gleb Bryanski; Editing by Jane Merriman and Susan Fenton)
Grinex suspended its operations after a cyber attack resulted in the theft of assets worth 1 billion roubles ($13.10 million).
Grinex blames 'foreign intelligence services' of unfriendly states for the cyber attack, though this claim is unverified.
Grinex has been sanctioned by the U.S., the UK, and the European Union for allegedly helping customers circumvent sanctions.
Grinex is associated with a Russian rouble-backed stablecoin called A7A5, used to help customers bypass sanctions.
The attack is seen as an attempt to harm Russia's financial sovereignty and highlights vulnerabilities in crypto infrastructure.
Explore more articles in the Finance category
