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The trading platform Grinex, linked to the Russian crypto market, suspended withdrawals and trading on Thursday, citing a "massive cyber attack." The exchange stated that over 1 billion rubles (approximately 13.1 million USD) were stolen, but blockchain analysis firm Elliptic's tracking shows the actual loss is about 15 million USDT.The stolen funds have been exchanged for TRX and ETH through the Tron and Ethereum networks to evade freezing. It is reported that Grinex is seen as the successor to the sanctioned Garantex trading platform, which was targeted by U.S. authorities last year for facilitating the flow of hundreds of millions of dollars in illegal funds.

According to the "News" report, the Federal Security Service of the Russian Federation (FSB) recently arrested three Telegram investment channel owners, accusing them of manipulating stock prices through a "Pump&Dump" strategy, involving over 55,000 illegal transactions related to 19 large companies on the Moscow Exchange.Research from Moscow State University shows that 11% of Telegram investment signals can have a substantial impact on stock returns, with over 60% of private investors relying on such signals to make decisions. The Central Bank of Russia stated that it will continue to monitor abnormal trading and warned that "punishment is inevitable" for illegal bloggers. Experts remind that manipulative signals are often presented in emotional language, promise quick profits, and do not disclose risks; investors should prioritize consulting licensed advisors.

On-chain analyst ZachXBT stated that Russian over-the-counter intermediary Aleksandr Khinkis (Aleks) has been accused of assisting a ransomware group in laundering money through a single cryptocurrency exchange account since July 2025. The related funds come from three suspected ransom payments, totaling 796 BTC, equivalent to over 4.7 million USD.On-chain forensics show that some of the Bitcoin was transferred to Avalanche via a cross-chain bridge, then split into about 75 transactions into his exchange deposit address 0xa756...06e. Additionally, approximately 16.6 million USD in related funds remains stored at the relevant addresses or platforms. ZachXBT stated that he has provided clues regarding the aforementioned addresses and fund flows to compliance and law enforcement agencies.

Renowned on-chain investigator ZachXBT released a report today stating that a Russian over-the-counter (OTC) broker named Aleksandr (Aleks) Khinkis is suspected of assisting ransomware groups in laundering over $4.7 million since 2025 through a single cryptocurrency trading platform account.The related funds involve three suspicious ransom payments, totaling approximately 796 bitcoins (BTC). The investigation shows that these funds were transferred in batches to his trading platform's deposit address (0xa756) after being bridged between Bitcoin and Avalanche, completing a total of 75 transactions from 2025 to 2026. Additionally, approximately $16.6 million is currently still held in Aave and is being gradually liquidated.ZachXBT pointed out multiple ransom transactions: a ransom payment of about 72 BTC in September 2025 was bridged to the related address; a ransom of about 164 BTC was also discovered in October 2025 and converted to approximately $3.8 million. Some related addresses were blacklisted by Tether in November 2025, and the subsequently frozen USDT was destroyed three weeks ago, indicating that law enforcement and compliance agencies have intervened.Earlier in 2023, this account was also involved in a ransom transaction of about 560 BTC, which was circulated through multiple intermediary addresses and trading platforms before being bridged back to the Avalanche network in 2024. Furthermore, the investigation pointed out that the source addresses of the related bitcoins have a high correlation with multiple ransomware addresses, suspected of serving as payment transit nodes. Although some funds remain dormant, ZachXBT warned that they may still be laundered in the future and urged victims to report related addresses promptly to freeze the funds.

According to market news, the Ukrainian government plans to regulate cryptocurrency donations in political funding to prevent Russian interference.The Ukrainian National Securities and Stock Market Commission outlined relevant mechanisms in the upcoming legal framework for the crypto economy during a public discussion with legal advisors, including the implementation of the "travel rule" to identify participants in cryptocurrency transactions and requiring service providers to report information directly to tax authorities. Ukraine will also restrict access to its crypto market for participants created by Russian capital or associated with Russia. The Ukrainian securities regulator stated that these measures aim to enhance transaction transparency and reduce the risk of opaque or foreign interference in the political process.

According to the "News" report, the Central Bank of Russia has submitted a proposal to the government to allow digital financial assets (ЦФА) to circulate in open networks such as Ethereum, with a related legal draft planned to be released in the summer of 2026.This initiative aims to attract foreign capital from Asia, the Middle East, and Latin America in the context of sanctions, and to promote cross-border settlements. The Russian ЦФА market has grown from 44 billion rubles to 1.5 trillion rubles over the past three years, but it is still primarily driven by domestic demand. Analysts expect that if the relevant regulations are implemented, the market size could reach 12 to 13 trillion rubles by 2030.

Russian Ministry of Finance officials have stated that they are considering introducing a separate stablecoin bill, rather than incorporating stablecoins into the upcoming cryptocurrency exchange regulations. Alexey Yakovlev, head of the Financial Policy Department, stated that stablecoins have "huge, even extremely huge potential." Russia has viewed stablecoins as a potential tool to bypass sanctions.Yakovlev mentioned that after the State Duma passes a bill prohibiting citizens from trading cryptocurrencies on platforms without operating licenses, they will begin to advance stablecoin regulation. The cryptocurrency bill is expected to be submitted to the State Duma during the spring session, potentially coming into effect as early as July. Currently, stablecoins do not have a legal status under Russian law, and the Ministry of Finance has expressed a desire to resolve this issue as soon as possible. Yakovlev stated that the government aims to ensure that stablecoins "serve economic interests, especially domestic interests." Previously, the Central Bank of Russia established a category for "foreign digital rights," with the first approved stablecoin being the ruble-pegged A7A5 stablecoin, which was authorized for use in overseas trade last October.According to market news, the total value of issued stablecoins has increased by over 51% since the beginning of 2025, reaching $311 billion.

According to DL News, the Central Bank of Russia has warned that financial pyramid scheme organizers in the country have largely turned to using cryptocurrencies. In 2025, Russian citizens sent funds to cryptocurrency wallets held by fraudsters, involving over 4,600 wallet addresses.The central bank discovered 7,087 financial pyramid schemes, fake brokers, and other fraudulent schemes last year, with 80% operating online, most of which used cryptocurrencies and money mules to transfer funds. In 2025, 84% of fraudsters used cryptocurrencies to raise funds, up from 77% in 2024. The Central Bank of Russia has ordered the blocking of 21,500 related web pages and social media posts.The central bank pointed out that fraudsters choose cryptocurrencies to maintain anonymity and evade punishment, and it has pledged to strengthen monitoring and increase efforts to combat cryptocurrency fraud.

According to Kommersant, Russian President Vladimir Putin has signed a new law that grants Russian courts new powers to confiscate cryptocurrencies in criminal investigations.The law will amend the Russian Criminal Code to classify cryptocurrencies as a form of intangible property. Elena Ardabyeva, Deputy Minister of Justice of Russia, stated that the law formally incorporates existing digital asset confiscation protocols into the legal framework and provides a legal avenue for cooperation with foreign cryptocurrency exchanges.The law stipulates that requests for the confiscation of cryptocurrencies made by police or prosecutors must include detailed information such as the type of tokens, quantity, and wallet addresses. Experts suggest that the Kremlin may begin to block citizens' access to foreign cryptocurrency exchanges this year.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced sanctions against the Russian cybersecurity company Operation Zero and its head, Sergey Sergeyevich Zelenyuk, due to allegations that the company funded activities aimed at stealing U.S. trade secrets through cryptocurrency.The sanctions also include five other related individuals, accused of using cyber attack tools to threaten U.S. national security. This action stems from an investigation by the U.S. Department of Justice last year. An Australian citizen, Peter Williams, has admitted to stealing proprietary software from the U.S. defense contractor he worked for and providing the secrets to Operation Zero in exchange for millions of dollars in cryptocurrency.Williams has pleaded guilty to two counts of trade secret theft. The U.S. Treasury stated that Operation Zero primarily engages in the trading of exploit tools, which can exploit software vulnerabilities to gain unauthorized access, steal data, or control devices. The company also pays individuals who carry out attacks through a bounty system. Treasury Secretary Scott Bessent stated that if anyone steals U.S. trade secrets, the U.S. government will hold them accountable and will continue to protect sensitive technology and national security.

According to Bitsmedia, Russian retail brokerage Finam has disclosed that it has registered an investment fund aimed at cryptocurrency mining with the country's central bank. The fund is currently in the final stages of operational preparation and will soon launch a series of investment products related to digital asset mining.

According to a report by TASS, Ivan Chebeskov, the Deputy Minister of Finance of Russia, stated at the Alfa Talk conference that the daily cryptocurrency trading volume in Russia is approximately 50 billion rubles (about 650 million USD), with millions of citizens participating.Chebeskov mentioned that the use of cryptocurrency in Russia continues to grow, involving millions of citizens and trillions of rubles. He stated that this trend indicates a significant increase in the interest of the Russian public in digital assets as a savings tool. The Russian Ministry of Finance has previously pointed out that the market size reaches trillions of rubles.

According to TASS, Vladimir Chistyukhin, First Deputy Governor of the Central Bank of Russia, stated at the Alfa Talk conference that the Central Bank of Russia plans to conduct a study on the feasibility of creating a Russian stablecoin in 2026.Chistyukhin mentioned that the traditional stance of the Central Bank of Russia does not allow such operations, but considering the practices of multiple countries, it will reassess the related risks and prospects, and submit the research results for public discussion.

According to Jinshi Data, EU High Representative for Foreign Affairs and Security Policy Borrell stated that the European Union will prohibit the digital currency of the Russian Central Bank.

The President of the United States, Trump, announced a trade agreement with India. According to the agreement, the U.S. will significantly reduce tariffs on Indian goods from 50% to 18% in exchange for India lowering trade barriers, stopping the purchase of Russian oil, and instead buying oil from the U.S. and possibly Venezuela. Trump stated that Indian Prime Minister Modi has committed to significantly increasing "buying American," including energy, technology, and agricultural products worth over $500 billion.Under the agreement, the U.S. will eliminate the previously imposed 25% punitive tariff on India for purchasing Russian oil. Additionally, Modi stated that this agreement will allow "Make in India" products to enjoy lower tariffs and expressed gratitude to Trump.Analysts believe that this move will align India's tariff levels with those of other Asian countries, helping to eliminate the drag on Indian exports and the rupee exchange rate. The Indian Minister of Trade also stated that this agreement will bring more development opportunities for the Indian economy.It is worth noting that the details of this agreement have not been fully disclosed, including the specific timeline for tariff reductions and the list of U.S. goods that India has committed to purchasing. At the same time, Trump hinted that India might replace some of its Russian oil imports by purchasing oil from Venezuela.

According to the Russian newspaper "Kommersant," the large Russian Bitcoin mining company BitRiver is facing a serious crisis and may be heading towards bankruptcy. Its parent company has had bankruptcy observation procedures initiated by an arbitration court, with the main creditor, the En+ Group's "Siberian Infrastructure" company, demanding the repayment of over $9.2 million in debt.The report points out that BitRiver has fallen into a legal dispute with En+ due to failing to deliver equipment after not receiving advance payments for it. At the same time, the company is also facing multiple lawsuits from power companies seeking to recover unpaid electricity bills, totaling hundreds of millions of rubles. Due to its inability to pay electricity bills and local bans, BitRiver has ceased operations at several data centers in Irkutsk, Buryatia, and other locations. It is estimated that the company previously held over 50% of the mining market in Russia. The company is currently negotiating changes in ownership and the transfer of remaining assets.According to previous news from ChainCatcher, the CEO of the Russian Bitcoin mining company BitRiver was arrested on suspicion of tax evasion.

According to Cointelegraph, Igor Runets, the founder and CEO of the Russian Bitcoin mining company BitRiver, has been detained on suspicion of tax evasion.Documents from the Zamoskvoretsky Court in Moscow show that Runets was detained on January 30 and charged on January 31 with three counts of tax evasion related to concealed assets, and he was placed under house arrest. If the appeal fails or is not filed, the house arrest order will take effect on February 4, and Runets will be restricted to his home for the duration of the case.Founded in 2017, BitRiver is one of the largest Bitcoin mining companies in Russia, operating multiple large data centers in Siberia. According to Bloomberg, by the end of 2024, Runets has accumulated approximately $230 million in net assets through his cryptocurrency mining business.Since being sanctioned by the U.S. Treasury in 2022 due to the Russia-Ukraine conflict, BitRiver has faced multiple challenges, including the cessation of infrastructure use by Japan's SBI Bank, unpaid employee wages, and two lawsuits from Siberian infrastructure suppliers.

The Russian Constitutional Court recently ruled that cryptocurrency assets fall under the category of property protected by property rights, a decision that is expected to have far-reaching implications for future civil disputes and criminal cases involving cryptocurrency assets.Ignat Likhunov, head of the Russian law firm Cartesius, stated that this ruling provides clear legal grounds for law enforcement agencies and courts when dealing with issues related to stolen or disputed digital assets, and establishes an important precedent. The ruling also clarifies that as long as cryptocurrency assets are legally obtained, their property rights should be protected by the judiciary, even if they have not been declared to tax authorities.The case originated from a civil lawsuit filed by Moscow resident Dmitry Timchenko. In 2023, Timchenko lent 1,000 USDT to another party, but the latter failed to return it as agreed. A lower court had previously dismissed his claim on the grounds that "stablecoins are not within the scope of digital financial asset legislation." The Constitutional Court pointed out that failing to declare cryptocurrency assets does not automatically negate property rights, and the relevant declaration obligations only apply to miners.As this ruling comes into effect, Russia is advancing a new round of cryptocurrency regulatory legislation. Analysts believe that this judgment provides clearer judicial protection for cryptocurrency holders before the legislation is completed.

According to market news, Nikolay Shulginov, chairman of the Russian Energy Committee, stated that illegal cryptocurrency mining causes losses of over 20 billion rubles (approximately 250 million USD) annually to the Russian economy and energy sector, leading to power shortages, grid overloads, and affecting other users, including social facilities and newly built residential areas.Russia has legalized cryptocurrency mining since the end of 2024, requiring practitioners to register with the Federal Tax Service and pay taxes, but currently, less than one-third of practitioners have completed the registration. This week, the State Duma submitted a bill proposing to impose administrative fines of up to 2 million rubles for illegal mining, with repeat offenders facing fines of up to 10 million rubles. Shulginov further suggested introducing criminal liability, and the Ministry of Justice has also proposed imprisonment or "forced labor" for unregistered miners.In addition, the Duma has passed a bill in the first reading that authorizes the Ministry of Finance to regulate the cryptocurrency market (including mining) to eliminate administrative barriers and increase the industry registration rate.

The chairman of the Financial Market Committee of the State Duma of Russia, Anatoly Aksakov, stated that a bill aimed at removing cryptocurrencies from the "special financial regulation" framework has been prepared, which may promote the common occurrence of cryptocurrencies in the lives of Russian residents in the future.Aksakov mentioned in an interview with Russian state television that the State Duma will focus on issues related to digital financial assets and cryptocurrencies during the upcoming spring session. According to the proposed bill, cryptocurrencies will no longer be regarded as special regulatory objects, and their use cases will become more normalized.He also pointed out that the bill allows non-professional investors to participate in the cryptocurrency market but sets a limit, stating that the amount an individual can purchase in digital currency must not exceed 300,000 rubles; professional market participants are not subject to this restriction. In addition, cryptocurrencies can be used for international settlements and, after being issued in Russia, can further enter the financial markets of other countries.