US Treasury Doubles Down, Hits Crypto Exchange Garantex with

Russia

Sanction

U.S Treasury

The US Treasury's pursuit of Garantex's founders and their new exchange, Grinex, reveals that the initial sanctions simply forced the perpetrators to rebrand their $100 million illicit financial network, not abandon it.

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Hassan Shittu

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Hassan Shittu

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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

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The United States Treasury Department has escalated its crackdown on illicit crypto activity, redesignating the Russian-linked cryptocurrency exchange Garantex Europe OU and sanctioning its successor platform, Grinex.

The move follows years of allegations that Garantex processed more than $100 million in transactions tied to ransomware groups, darknet markets, and other cybercriminal operations.

OFAC Targets Garantex Leaders in Crackdown on Crypto Crime.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned three senior executives of crypto exchange Garantex and six associated companies in Russia and Kyrgyzstan. The measures, announced Thursday under OFAC’s cyber authorities, cite the platform’s role in laundering digital assets for cybercriminals....

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