US Sanctions Russia’s Crypto Exchange, Executives Over $100 Million in Illicit Transactions
The US Treasury Department has re-designated
Moscow-based cryptocurrency exchange Garantex and sanctioned its successor,
Grinex, along with three executives and six associated companies in Russia and
the Kyrgyz Republic.
Officials say Garantex processed more than $100
million in illicit transactions since 2019, including funds tied to ransomware
attacks and darknet markets.
“Digital assets play a crucial role in global innovation and
economic development, and the United States will not tolerate abuse of this
industry to support cybercrime and sanctions evasion. Exploiting cryptocurrency exchanges to
launder money and facilitate ransomware attacks not only threatens our national
security, but also tarnishes the reputations of…
