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- Grinex has suspended all exchange activity after what it described as a major cyberattack and said it had handed the case over to the police.
- The platform, connected by blockchain researchers to the “fingerprints” that work as an authorized exchange of Garantex, is the most important place for the sale of the ruble-backed stablecoin A7A5.
Grinex has suspended trading after reports of a major cyber attack, drawing new attention to the platform which is already under scrutiny due to its affiliation with the official Russian exchange Garantex.
The exchange said all operations have been suspended and details of the incident have been handed over to the police as they look to open a case. In a statement sent to its Telegram channel, Grinex said the attack had signs of involvement in what it called “Western special operations,” saying the operation was designed to undermine Russia’s financial authority.
Grinex blames foreign players when trading stops
The company’s slogan was, to put it mildly, political. Grinex described itself as a leading “cryptoruble” exchange serving Russian businesses and citizens, and said that the digital nature of the attack pointed to a number of assets that were only available to foreign investors.
These claims have not been independently verified, and they get into a difficult area already. Crypto exchanges that are connected to official sites or political payment rails are often the default sites for news that is as much political as it is technical.
However, the practical principle is simple. The sale has been suspended, and the platform says it is now trying to move the case to a criminal investigation.
Garantex links and A7A5 events expand the database
What makes the event so popular is who Grinex is. According to blockchain analytics firm CircularThe exchange shares the same “fingerprints” as Garantex, a Russian platform that was seized and removed from the Internet by the US Secret Service for its cooperation with legitimate Russian banks and criminal groups.
Elliptic has also identified Grinex as a major sales vehicle for A7A5, driven by the ruble stablecoin.
This is important because it puts the risk beyond the usual extinction category. Grinex stands at the forefront of the risk of threats, alternative payment methods and the flow of Russian products. When a platform like that goes dark, even briefly, the impact can be measured not only in terms of disrupting sales, but how the surrounding networks are forced to respond.
