Russian Crypto Exchange Garantex Shut Down: Was It Laundering Criminal Funds?
Citing purported connections to criminal organizations and sanctioned Russian banks, the U.S. Secret Service, working with international law enforcement, seized and shut down the website of the Russian cryptocurrency exchange Garantex. The U.S. Attorney’s Office for the Eastern District of Virginia issued a warrant to the agency, which seized the platform’s domain, according to the Garantex homepage, which is currently timing out.
Nate Herring, a Secret Service spokeswoman, stated that the seizure was a component of an ongoing investigation and that the agency would provide more details as they become available. Shortly after stablecoin issuer Tether froze $28 million in USDT on the market on Thursday, the action was taken.
Western Investigations Target Garantex, Exchange Halts Crypto Withdrawals Amid Allegations
Western European and U.S. investigators have targeted Garantex, claiming it has collaborated with malware and darknet organizations. Garantex stated in a post on its Telegram channel that Tether had banned exchange wallets containing over 2.5 billion rubles ($25 million) and that all services, including cryptocurrency withdrawals, had been temporarily paused while their entire staff worked to resolve the issue.
We are fighting and will not give up,
the note
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