Garantex Crypto Exchange Seized in International Law Enforcement Operation
Garantex, a Russian cryptocurrency exchange linked to ransomware gangs and darknet markets, has been dismantled following an international law enforcement operation led by the U.S., Germany, and Finland. Key points include:
- Seizure of Garantex’s domains and servers.
- Nearly $28 million in cryptocurrency frozen, with assistance from Tether.
- The U.S. Treasury’s OFAC sanctioned Garantex in 2022 for facilitating money laundering.
- Despite sanctions, Garantex processed over $60 billion in transactions post-sanction, totaling over $96 billion.
- Minimal KYC compliance allowed unchecked criminal activities; accounts registered under pseudonyms.
- Clientele included North Korea's Lazarus Group and Russian oligarchs evading sanctions.
- Two operators charged in the U.S. for money laundering and conspiracy.
Aleksej Besciokov, 46, faces charges related to money laundering and operating without a license. Aleksandr Mira Serda, 40, has also been charged with money laundering.