U.S. Unleashes Major Crackdown on Russian-Linked Crypto Exchange Garantex
The U.S. government just dropped the hammer on Garantex—a crypto exchange with alleged ties to Russia. This isn’t just a slap on the wrist; it’s a full-blown financial siege.
Why now? The move signals escalating scrutiny of crypto’s role in geopolitical tensions. Regulators are done playing whack-a-mole with shady exchanges.
Garantex joins a growing list of platforms caught in the crosshairs. No numbers? No problem—the message is clear: compliance isn’t optional anymore.
Meanwhile, TradFi bankers are probably sipping champagne, muttering 'told you so' about crypto’s wild west rep. Irony alert: their own compliance departments are hardly spotless.
Multi-Million Dollar Rewards for Information
The U.S. State Department is offering up to $5 million for intelligence leading to the capture of Russian national Aleksandr Mira Serda, a senior figure at Garantex. An additional $1 million is available for tips on other top members. Potential informants are encouraged to use secure U.S. Secret Service channels.
Sanctions Tighten Around Garantex Network
The Treasury Department’s Office of Foreign Assets Control (OFAC) has not only reaffirmed sanctions on Garantex but also extended them to Grinex, a suspected replacement exchange. Three executives and six affiliated companies in Russia and Kyrgyzstan have been blacklisted, cutting them off from the U.S. financial system.
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Massive Criminal Flow Through the Exchange
Investigators claim that from April 2019 to March 2025, Garantex moved over $96 billion in cryptocurrency, with a substantial share linked to illegal activity. The coordinated U.S. response underscores a growing focus on disrupting crypto platforms seen as enablers of global cybercrime.
