Quick Takeaways
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Reward Announcement: The U.S. Department of State is offering up to $6 million for information leading to the capture of Garantex executives, highlighting its significant involvement in cybercrime and money laundering.
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Criminal Operations: Garantex, operational since 2019 and rebranded to Grinex, facilitated at least $96 billion in transactions linked to criminal activities including terrorism and drug trafficking before losing its license in 2022.
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International Collaboration: German and Finnish authorities have seized over $26 million in assets and helped close down Garantex’s operations, while U.S. agencies prepare to charge multiple executives linked to the exchange.
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Ongoing Legal Actions: Following indictments in March 2025, CCO Aleksandr Mira Serda remains at large, while another executive has been arrested in India, further emphasizing the extensive legal pursuit against Garantex leadership.
U.S. DOJ Offers $6M Bounty for Garantex Exchange Leaders
The U.S. Department of Justice has announced a substantial bounty for information on the leaders of the defunct Garantex cryptocurrency exchange. This exchange, previously active in Russia, has faced serious allegations of facilitating cybercrime and money laundering.
In a recent statement, the DOJ revealed the Transnational Organized Crime Rewards Program (TOCRP) will offer up to $6 million. The reward splits into $5 million for Aleksandr Mira Serda, co-owner and Chief Compliance Officer, and $1 million for other key figures associated with the exchange.
Authorities allege Garantex facilitated over $96 billion in cryptocurrency transactions from April 2019 to March 2025. Criminals reportedly used the platform for various illegal activities, including drug trafficking and terrorism. This has raised significant concerns about the exchange’s operations in the U.S. and around the globe.
As authorities work to dismantle Garantex’s legacy, they also target its operating successor, Grinex, which remains active. The Office of Foreign Assets Control (OFAC) plans to redesignate Garantex and expose any other affiliated companies involved in illegal practices. Recently, Tether blocked wallets associated with Garantex, cutting off access to millions in digital assets.
Founded at the end of 2019 and registered in Estonia, Garantex lost its license in February 2022. Investigations revealed severe deficiencies in its anti-money laundering efforts. After regulatory pressure, the exchange attempted to obscure connections to criminal activity, but its tactics drew scrutiny.
Current investigations also involve Ekaterina Zhdanova, a known money launderer linked to Garantex. She reportedly transferred over $2 million in Bitcoin through the exchange and is currently being pursued under a U.S. executive order.
The global crackdown on such exchanges highlights a growing commitment to combating financial crime via technology. By targeting these platforms, authorities aim to reinforce security and integrity within the ever-evolving cryptocurrency landscape. Thus, this bounty serves as both a warning and a critical step in enhancing trust in digital currency systems.
For those interested in following developments in the crypto industry, the increasing regulation signifies a significant turning point. As such, it underscores the importance of transparency and accountability in technology-driven finance.
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This content is for informational and entertainment purposes only and does not constitute financial or investment advice. Cryptocurrency is highly speculative and carries significant risk, including the potential loss of your entire investment. Do not make financial decisions based on this information. Consult a licensed financial advisor before investing. This site does not offer, sell, or advise on cryptocurrency, securities or other regulated financial products in compliance with SEC and applicable laws. Please do your own research and seek professional advise.
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