Crypto Crackdown: Garantex Seized by Secret Service in Global Sting
U.S. Secret Service and international law enforcement have taken down the domain of Russian crypto exchange Garantex, effectively pulling the plug on its operations. The site was linked to over $100 million in illicit transactions, including dealings with the RaaS gang Conti and Hydra Market.
Hot Take:
Well, it seems like the international law enforcement community decided to throw a surprise party for Garantex, and they forgot to send out the invitations! When your domain gets seized, you might want to reconsider your business model—or at least your customer base. Looks like Garantex will need more than just a ‘password reset’ to get back online!
Key Points:
- U.S. Secret Service and international law enforcement seized Garantex’s domain.
- Garantex was sanctioned by the U.S. Treasury in April 2022.
- The exchange was linked to over $100 million in illicit activities.
- Garantex’s operations were mainly in Moscow and St. Petersburg.
- EU imposed sanctions due to ties with Russian banks, prompting Tether to block its wallets.
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