Kyrgyz crypto exchange Grinex halts after $13.7m cyber heist

Kyrgyzstan-based crypto exchange Grinex halted operations after a cyber attack that the firm says involved Western intelligence agencies, with about $13.7 million stolen from Russian users’ wallets. The exchange, which serves Russian-speaking users and facilitates crypto-ruble transactions, reported that hackers took over 1 billion rubles from Russian wallets. Grinex attributed the incident to foreign intelligence agencies in a press release published by the exchange.

Early findings suggested the attack aimed to damage Russia’s financial sovereignty. Blockchain security firm Elliptic reported that hackers moved roughly $15 million in USDT to other wallets before converting it to TRX or ETH to avoid freezing. The firm also noted Grinex helped return over 2.5 billion rubles in crypto previously frozen by Tether, and the incident followed sanctions-related activity around related platforms in 2025.