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The U.S. Department of the Treasury slashes the Garantex exchange for the second time.
The U.S. Department of the Treasury (OFAC) has re-listed the cryptocurrency exchange Garantex Europe on the sanctions list, while also slashing the successor company Grinex, three leaders of Garantex, and six companies in Russia and Kyrgyzstan for allegedly supporting illegal transactions. OFAC stated that Garantex had processed over 100 million USD related to illegal activities since 2019.
Garantex was previously sanctioned in 2022 for ignoring anti-money laundering and anti-terrorism financing regulations. The leaders were accused of establishing Grinex to evade the sanctions, despite the fact that the U.S. had seized 26 million USD in cryptocurrency, shut down the website, and prosecuted two directors.
The U.S. Department of Justice indicted Aleksandr Mira Serda and Aleksej Besciokov in March; Besciokov was arrested in India, while Serda is on the run. The U.S. is offering a reward of up to 6 million USD for information leading to their arrest.