Grinex emerged as the post-Garantex successor after OFAC and BKA took down the original Moscow exchange in March 2025 — Elliptic and TRM Labs both tracked infrastructure and counterparty overlap within weeks. A $13M drain blamed on "foreign special services" with zero on-chain attribution is the cover story you run when admitting insider theft would kill trust on the only RUB on-ramp left standing. The exit-rebrand cycle for Russian exchanges post-sanctions has been running tight since BTC-e → WEX → [nothing] — Grinex v2 launches under a new domain within 90 days.

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