Crypto Platform Garantex Seized by Secret Service

U.S. Secret Service Seizes Russian Crypto Exchange Garantex

• The U.S. Secret Service seized the website of Russian crypto exchange Garantex.
• The seizure was due to alleged ties with sanctioned Russian banks and criminal groups.
• Tether froze $28 million in USDT on the exchange shortly before the seizure.
• Garantex’s wallets, holding over 2.5 billion rubles ($25 million), were blocked by Tether.
• In April 2022, Garantex was sanctioned for transactions linked to illicit actors, including $6 million from Conti and $2.6 million from Hydra.

The U.S. Secret Service removed Garantex’s website due to its connections with sanctioned entities, following Tether’s freeze of $28 million in USDT on the platform.