Cryptocurrency: Elliptic Uncovers $60B Garantex Scandal

U.S. Secret Service and Elliptic Dismantle Garantex, Freeze $26M in Crypto

• The U.S. Secret Service dismantled the Russian cryptocurrency exchange Garantex.
• Elliptic, a blockchain analytics firm, supported the operation.
• $26 million in cryptoassets were frozen as part of the takedown.
• Garantex executed over $60 billion in transactions despite sanctions.

The U.S. Secret Service, with assistance from Elliptic, successfully dismantled the sanctioned Russian cryptocurrency exchange Garantex and froze $26 million in cryptoassets. This action followed revelations that Garantex had conducted more than $60 billion in transactions since sanctions were imposed by the U.S. and EU.