Sanctioned Russian cryptocurrency exchange Garantex is suspected of changing its name to Grinex.

The latest report from Swiss blockchain analysis firm Global Ledger shows that the sanctioned Russian cryptocurrency exchange Garantex has been renamed Grinex, and a large amount of on-chain and off-chain data indicates that Grinex is the direct successor of Garantex. Some of Garantex's liquidity, including the ruble-backed stablecoin held by Garantex, has been transferred to wallets controlled by Grinex. Grinex has recently grown rapidly, with trading volume exceeding $40 million in just two weeks.