Summary: The U.S. and European law enforcement have seized the domain of the Russian cryptocurrency exchange Garantex amid allegations of its involvement in circumventing sanctions and facilitating cybercrime. This action followed Garantex’s announcement of million worth of assets being frozen by the cryptocurrency firm Tether. The exchange has been linked to illicit activities and has gained notoriety in the Russian crypto market since its founding in 2019.

Affected: Garantex

Keypoints :

• Garantex’s domain was seized by the U.S. Secret Service under a seizure warrant.
• The exchange has been accused of aiding cybercriminals and facilitating sanctions circumvention.
• Tether has frozen over 2.5 billion rubles ( million) of Garantex’s assets, prompting the suspension of services.
• The platform has connections to Russian banks and has enabled users to exchange rubles for cryptocurrencies to evade sanctions.