Russian Crypto Exchange Suffers $13M Hack and Trading Suspension

Russia's Grinex cryptocurrency exchange has been affected by a major cyberattack, resulting in significant financial losses.

The attack, which is believed to have occurred recently, saw hackers steal around $13 million in USDT funds from the platform. According to reports, the stolen money was transferred to 54 wallet addresses and then converted into Ethereum and TRON holdings, making it challenging for investigators to track the assets.

The incident has raised concerns about the security of cryptocurrency exchanges, particularly those with links to hostile state-level actors. Grinex has been associated with Garantex, a platform confiscated by US authorities in 2020, which may have contributed to its current situation.