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Tag: Garantex

GARANTEX 2.0: How “Grinex + A7A5” Built Moscow’s Crypto Escape Hatch — And Why Regulators Just Slammed It Shut

Sanctions tamir -
The U.S. (Aug 14, 2025) and the U.K. (Aug 20, 2025) have escalated coordinated sanctions against Russia’s Garantex network — now operating through its successor Grinex and the ruble-pegged stablecoin A7A5 — accusing it of laundering ransomware proceeds and enabling cross-border payments to blunt Western restrictions.

RUBLE RUNNERS: How Moscow Hijacked Kyrgyz Crypto Rails to Dodge Sanctions

Crypto Compliance Charlene Lensburg -
Russia’s A7A5 laundering network used Kyrgyzstan’s thin-ice regulatory regime and a purpose-built exchange called Grinex (previously Garantex) to wash an estimated US$9.3 billion in just four months—re-opening a sanctions-proof exit hatch for Kremlin cash. The case exposes systemic blind spots in Western AML/CFT architecture and sets a dangerous template for copy-cats across emerging markets.

Grinex: Garantex’s Shadow Successor Moves $1.66B Through Global Crypto Channels

Crypto Schemes tamir -
As exposed by FinTelegram a few years ago, Garantex was one of the vast Russian crypto-based money laundering schemes facilitating cybercrime activities. Grinex, a cryptocurrency exchange identified as the suspected successor to the sanctioned Russian platform Garantex, has reportedly moved more than $1.66 billion in crypto through exchanges, despite red flags raised by blockchain analytics firm Global Ledger.

Financial Intelligence Update: Garantex and Its Successor, Grinex

Crypto Compliance tamir -
Following the shutdown of the Russian crypto exchange Garantex in March 2025, evidence has emerged that its operations have been seamlessly continued under a new platform, Grinex. Despite sanctions and frozen wallets, Grinex has already processed over $29 million in transactions by mid-March 2025, according to an investigation by Swiss blockchain analytics firm Global Ledger.

U.S. Treasury Sanctions Crypto Wallets Tied to Russian Exchange and Houthi Terror Network

Crypto Compliance tamir -
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned eight crypto wallets tied to the Russian crypto exchange Garantex and Yemen’s Houthi militant group. Blockchain intelligence firms Chainalysis and TRM Labs uncovered nearly $1 billion in suspicious crypto transactions linked to terror financing, including attacks on civilian and military vessels in the Red Sea. This move highlights the growing intersection between digital assets and global conflict zones.

FinTelegram Investor Briefing: Garantex Reemerges as Grinex Amid Sanction Evasion

Crypto Compliance Charlene Lensburg -
Sanctioned Russian crypto exchange Garantex has allegedly relaunched under the brand Grinex, according to a March 2025 report by Swiss blockchain analytics firm Global Ledger. The rebranded platform is linked to Garantex through on-chain and off-chain evidence, including liquidity transfers, shared infrastructure, and operational patterns.

Chainalysis Report Details Dismantling of Russian Crypto Exchange Garantex

Crypto Compliance tamir -
This report summarizes key findings from a recent Chainalysis analysis regarding the Russian cryptocurrency exchange Garantex, a subject previously covered by FinTelegram due to its alleged role in facilitating illicit financial activities. The Chainalysis report provides further details on Garantex's operations, its connections to illicit actors, and the impact of international regulatory actions.

Garantex Crypto Exchange Seized: U.S. and Allies Crack Down on Russian Money Laundering Hub

Law Enforcement tamir -
U.S. and allies take down Garantex—Russia’s rogue crypto exchange! In a major international operation, the DOJ, Germany, and Finland seized Garantex’s domains and servers, cutting off a $96 billion laundering pipeline linked to cybercrime, terrorism, and drug trafficking. Two administrators—Aleksej Besciokov and Aleksandr Mira Serda—are indicted for money laundering and sanctions violations.

Russia Sentences Hydra Marketplace Founder to Life in Prison!

Court Cases Ben -
The founder of Hydra, the notorious dark web drug marketplace, has been sentenced to life in prison by a Moscow court. Stanislav Moiseyev, along with 15 accomplices, faced charges of running a criminal drug enterprise. Their sentences include hefty fines and the confiscation of assets, marking a major crackdown on the dark web's illicit economy.

Compliance Report: Sergey Mendeleev, Garantex, and Exved – The Rising Role of Crypto in Russia’s Sanctions Evasion Strategy

Central Bank of Russia tamir -
Sergey Mendeleev, a prominent figure in Russia's cryptocurrency scene, has played a central role in the establishment and operation of two key platforms—Garantex and Exved. These platforms have been instrumental in facilitating cross-border payments and crypto transactions, potentially serving as important tools for Russia’s sanctions evasion strategy. Mendeleev's growing influence in this space, coupled with Russia's evolving regulatory framework, positions him as a key player in Russia.

Cryptonator Founder Indicted for Handling $235 Million in Illicit Funds

Crypto Schemes Ben -
The U.S. Justice Department (DOJ) has indicted Roman Pikulev, a/k/a Roman Boss, a Russian national, for his role in founding and operating Cryptonator, an unlicensed crypto exchange alleged to have processed over $235 million in illicit funds. According to the indictment, Pikulev and his associates ran Cryptonator from 2014 until March 2023 and operated as an international money laundering scheme, catering primarily to criminals.

Sanctions and Crypto – Unmasking the Dark Side of Unregistered Exchanges

Compliance tamir -
In recent years, the murky waters of crypto-based money laundering have come under increasing scrutiny, with unregistered exchanges playing a central role in facilitating illicit financial flows. FinTelegram has previously reported on platforms like Garantex, shedding light on how these unregulated entities have become hotbeds for laundering dirty money. The world of crypto, while revolutionary in its potential for financial freedom and innovation, has also opened doors for nefarious activities.

FinTelegram is a cyberfinance intelligence and compliance platform investigating financial crime, regulatory violations, and the rails, entities, and ecosystems that facilitate them. Combining investigative journalism, whistleblower intelligence, and forensic compliance analysis, we map risk across payments, banking, crypto, and offshore structures to support transparency, accountability, and informed action.

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