In a major international law enforcement operation, Russian cryptocurrency exchange Garantex has been seized for allegedly facilitating illicit financial transactions. Authorities claim the platform played a key role in laundering money for cybercriminals, including ransomware gangs and darknet markets.
The U.S. Secret Service led the takedown, replacing the exchange’s website with a seizure notice. This follows recent actions by financial regulators, including the freezing of millions in crypto assets associated with the exchange.
Garantex has long been under scrutiny for its involvement in high-risk transactions, with previous sanctions labeling it as a hub for illicit finance. The latest crackdown underscores the growing global pressure on crypto platforms accused of enabling cybercrime and money laundering.
This operation marks a significant escalation in law enforcement’s fight against financial crime in the crypto sector, sending a strong message to platforms facilitating unlawful activities.
