The U.S. has renewed sanctions on Russian cryptocurrency exchange Garantex due to its role in laundering over $100 million for cybercriminals. The platform and its successor, Grinex, continue to evade sanctions and facilitate illicit transactions linked to ransomware gangs like Conti and Black Basta. #Garantex #Grinex #Conti #BlackBasta #cryptocurrency
Keypoints
- Garantex was sanctioned in 2022 for aiding cybercriminals and ransomware gangs.
- U.S. and European authorities have taken down Garantex’s servers and websites.
- Operators of Garantex, including co-founders, actively attempted to hide illegal activities.
- The platform moved operations to Grinex after sanctions, continuing illicit transactions.
- Over $100 million in transactions linked to cybercrime were traced on Garantex and Grinex.
Read More: https://therecord.media/treasury-department-renews-sanctions-garantex-grinex