Garantex, a Russian cryptocurrency exchange popular with ransomware gangs and darknet markets, has been taken down in an international law enforcement operation. The US Department of Justice announced the seizure on Friday, stating that the exchange was accused of knowingly facilitating money laundering for notorious cybercriminals.
In 2022, the US Treasury’s Office of Foreign Asset Control (OFAC) sanctioned Garantex due to its alleged role in money laundering for ransomware actors and darknet markets. However, despite the sanctions, Garantex continued to process over $60 billion in cryptocurrency transactions.
According to court documents, Garantex allowed users to register accounts with pseudonyms such as “Drug” or “hacker,” making it difficult to track legitimate customers. The exchange also allegedly processed transactions for high-profile clients, including North Korea’s state-sanctioned hacking squad and Russian oligarchs seeking to evade international sanctions.
Following the seizure of Garantex’s servers and domains, two operators have been criminally charged in the US for their connections to the exchange. Aleksej Besciokov, a Lithuanian national with ties to Russia, faces charges related to money laundering conspiracy, while Aleksandr Mira Serda, a Russian citizen currently residing in the UAE, also faces similar charges.
The international operation was facilitated by stablecoin issuer Tether and blockchain sleuthing firm Elliptic. The US-led effort aims to disrupt cybercrime networks and hold individuals accountable for their actions on the dark web.
Source: https://www.coindesk.com/policy/2025/03/07/sanctioned-russian-crypto-exchange-garantex-seized-operators-charged-with-money-laundering