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Tag: Grinex

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.

Hunting Down: Background on The Arrest of Garantex Co-Founder Aleksej Bešciokov in India!

India Ben -
On March 13, 2025, Indian authorities arrested Aleksej Bešciokov, a Lithuanian national and alleged co-founder of the sanctioned Russian cryptocurrency exchange Garantex, in Kovalam, Kerala. The arrest followed an international law enforcement action Bešciokov now awaits extradition to Lithuania on charges of money laundering, sanctions evasion, and facilitating ransomware transactions.

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.

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