The U.S. Department of the Treasury has imposed sanctions on Grinex, linked to the previously sanctioned Garantex, due to its role in facilitating illicit cryptocurrency transactions. The sanctions target key personnel and companies involved in the continued operations of these exchanges, highlighting ongoing efforts to combat cybercrime and money laundering in the crypto industry. #Garantex #BlackBasta
Keypoints
- Grinex is the successor to the sanctioned Russian crypto exchange Garantex.
- Garantex was linked to darknet markets and ransomware gangs like Conti and Black Basta.
- Following law enforcement actions, Garantex operatives created Grinex to continue illicit activities.
- Garantex processed over $96 billion in cryptocurrency transactions from 2019 to 2025.
- The U.S. Department of State is offering rewards for information on Garantex executives involved in illegal activities.