Garantex’s Downfall: Lessons for the Crypto World
What went wrong with Garantex and why should you care? Garantex has made headlines for all the wrong reasons. With over $96 billion in transactions linked to cybercriminal activities, including money laundering and terrorism, this Estonian registered exchange’s operational failures and regulatory issues have caught the attention of the U.S. Department of Justice (DOJ). They have even offered up to $6 million for information leading to the arrest of its executives. Quite a mess, right?
What are the key takeaways for crypto businesses and DAOs? In the aftermath, what can crypto businesses learn from Garantex’s failures? Well, there are best practices to consider. Collaborating with regulated custodians can add a layer of security to…
