Grinex, a sanctioned Kyrgyzstan-registered crypto exchange, has disclosed a hack of over one billion rubles.

In an announcement posted to the exchange’s official Telegram channel, the “targeted attack” was attributed to “Western special services,” and is aimed at “causing direct damage to Russia’s financial sovereignty.”

The loss sees Grinex “forced to suspend its operations.”

It says “attempts to destabilize the domestic financial sector have reached a new level – the direct theft of assets of Russian citizens and companies.”

Blockchain forensics firm Elliptic analysed outflows from affected addresses listed by Grinex and tallied a total of $15 million of USDT. The funds were then swapped to…