According to a Global Ledger investigation published in April 2026, Grinex, a sanctioned cryptocurrency exchange operating out of Kyrgyzstan, was drained of approximately $13.7 million and immediately suspended operations. Grinex had emerged in March 2025 as an apparent successor to Garantex, a Moscow-based exchange seized by law enforcement in 2025 after being sanctioned by the U.S. Treasury in 2022 for processing over $100 million in ransomware-linked and darknet market transactions.
The incident reflects broader darknet market activity, with Chainalysis reporting nearly $2.6 billion in aggregate cryptocurrency flows to darknet markets in 2025. Monero has become the dominant payment method on 89 percent of darknet markets, replacing Bitcoin due to its superior privacy features. Global Ledger’s research also found at least 20 centralized exchanges with 130 international licenses indirectly exposed to wallets linked to active darknet markets.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Pentagon Eyes Bitcoin Infrastructure as Strategic Asset, Hegseth Says
U.S. Secretary of War Pete Hegseth said this week that Bitcoin is part of classified Defense Department efforts to project power and counter China.
Key Takeaways:
Pete Hegseth told Congress on April 30, 2026, that Bitcoin efforts are classified inside the Pentagon.
Samuel J. Paparo Jr.
Coinpedia16m ago
Russian Oligarchs and State Banks Profit $100B+ Using Crypto to Bypass Sanctions, Proekt Reports
According to an investigation by independent media outlet Proekt, Russian oligarchs and state-owned banks have been profiting from a multi-billion-dollar shadow financial system using cryptocurrency to circumvent Western sanctions. The system processes around $2 billion in daily foreign trade and ha
GateNews3h ago
XRP Las Vegas 2026 Opens With Clarity Act Progress Backdrop
XRP Las Vegas 2026 opened its doors on Thursday, April 30, drawing the XRP community together for a two-day event running April 30 to May 1. The gathering follows directly on the heels of the Bitcoin 2026 Conference that concluded at the Venetian earlier in the week, keeping Las Vegas at the center
CryptoFrontier7h ago
US Seizes Nearly $500 Million in Iranian Crypto Assets Under Operation Economic Fury
According to Treasury Secretary Scott Bessent on Wednesday, the United States has seized nearly $500 million in Iranian cryptocurrency assets as part of Operation Economic Fury, a sanctions and asset seizure campaign ordered by President Donald Trump in March 2025. The program targets bank accounts,
GateNews9h ago
North Korea Accounted for 76% of 2026 Crypto Hack Losses in First Four Months, $577M Stolen: TRM Labs
According to TRM Labs, North Korean actors extracted approximately $577 million through the first four months of 2026, representing 76% of all global cryptocurrency hack losses during the period. The losses stem from two April incidents: the $292 million KelpDAO exploit and the $285 million Drift Pr
GateNews9h ago
Polish Exchange Zondacrypto Halts Withdrawals, Reportedly Controlled by Russian Tambov Mafia
According to Gazeta Wyborcza citing Poland's Internal Security Agency (ABW), Zondacrypto, one of Central and Eastern Europe's largest crypto exchanges, halted withdrawals this month after being revealed as controlled by Russia's Tambov crime syndicate since 2018. The platform's reserves reportedly d
GateNews10h ago
