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How crypto exchange Grinex shuttering poses ‘serious damage’ to Russian shadow financial economy

How crypto exchange Grinex shuttering poses ‘serious damage’ to Russian shadow financial economy

The Guidance

  • Grinex shut shop last Wednesday after allegedly suffering a massive hack.
  • The organisation suggested the attack was the work of ‘foreign intelligence services.’
  • It’s the latest blow to a weakening economy, say experts.

A version of this story appeared in The Guidance newsletter on April 20. Sign up here. 

Hey all, Liam here.

One of the largest crypto exchanges that handled Russia’s sanctioned stablecoin, A7A5, just shut up shop — poof — dishing another massive blow to the country’s weakening economy.

On Wednesday, Grinex announced on its Telegram channel that it would halt operations after allegedly suffering a cyberattack which robbed the platform of over 1 billion rubles, or $13 million.

The post’s authors claim the…

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