US Edition
OFAC Sanctions Crypto Network Behind Ruble-Backed Stablecoin and Shuttered Exchange Garantex
- On August 14, 2025, the U.S. Treasury Department re-designated Russian crypto exchange Garantex, its successor Grinex, executives, and related firms for sanctions violations.
- This measure came after a coordinated March 6 operation involving the U.S. Secret Service, along with Finnish and German authorities, which resulted in the seizure of Garantex’s domain and the freezing of cryptocurrency assets valued at more than $26 million.
- Garantex was founded in Estonia in 2019 but lost its license in 2022 due to anti-money laundering failures and links with sanctioned ransomware groups, then moved operations to Grinex to evade restrictions.
- John Hurley from the Treasury emphasized that the misuse of cryptocurrency platforms for money laundering and ransomware schemes endangers national security and damages the credibility of genuine virtual asset service operators.
- The sanctions freeze U.S. assets of specified entities, forbid U.S. individuals from conducting transactions with them, and include financial incentives totaling as much as $6 million for tips that lead to the capture of Garantex leaders, reflecting heightened measures against cybercriminal activity.
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28 Articles
The United States added to the sanctions list (SDN List) the company A7, created with the participation of the Russian bank PSB (previously called “Promsvyazbank”), which was engaged in organizing international settlements to circumvent the sanctions imposed against Russia.
The U.S. Treasury Department announced Thursday that it has re-sanctioned the Russian cryptocurrency exchange Garantex for facilitating "illicit activities" since 2019, as well as a network that allegedly facilitates...
The Kyiv Independent
einnews.comUS sanctions Russian crypto exchange over cybercrime — day before Trump-Putin summit in Alaska
The U.S. Treasury Department has re-designated the Russian-linked cryptocurrency exchange Garantex Europe OU, accusing it of directly enabling ransomware gangs and other cybercriminals by processing over $100 million in illicit transactions since 2019.
US widens sanctions on Russian crypto exchange Garantex, its successor and affiliate firms
U.S. officials imposed sanctions Thursday on Russian cryptocurrency exchange Garantex, its successor Grinex, and related affiliates, while also targeting its leaders for arrest with financial rewards. These measures are part of intensified efforts to halt the flow of ransomware proceeds facilitated by the platforms. The Treasury Department’s Office of Foreign Assets Control re-designated Garantex for sanctions, accusing its operators of processi…
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