In a coordinated international operation, the FBI, along with law enforcement authorities from Germany and Finland, has shut down the Russian cryptocurrency exchange Garantex. As part of the action, authorities seized domain names associated with Garantex’s operations and froze over $26 million allegedly used for money laundering.
Garantex is accused of facilitating money laundering for transnational criminal organizations, including terrorist groups, since its launch in April 2019. Over that time, the exchange reportedly processed at least $96 billion in crypto transactions.
Back in February 2025, the European Union imposed sanctions on Garantex, citing close ties to Russian banks already under EU sanctions.
In March 2025, Tether, the issuer of the USDT stablecoin, froze Garantex wallets holding more than 2.5 billion rubles, effectively halting all activity on the platform.
Shortly after, on March 11, Lithuanian national Alexey Beshchyokov, believed to be one of the platform’s administrators, was arrested in India at the request of U.S. authorities. He now faces charges of money laundering, sanctions violations, and operating an unlicensed business.
