Crypto Crackdown: U.S. Treasury Sanctions Russian Exchange Garantex for Ransomware Links
The U.S. Treasury has renewed sanctions on the Russian crypto exchange Garantex for processing over $100 million in shady transactions. Garantex’s sequel, Grinex, and several accomplices also made the blacklist. Apparently, laundering money and facilitating ransomware isn’t a good look, even if you rebrand. Who knew, right?
Hot Take:
Who knew that “laundering” wasn’t just about doing laundry? The U.S. Department of Treasury is back at it again, rinsing out the dirty money from Russia’s Garantex crypto exchange. I guess you could say they’re “coin laundering” experts now. Maybe next time, Garantex should try coming clean with their transactions instead of just laundering them!
Key Points:
– The U.S. Treasury renewed sanctions on Garantex and its successor, Grinex, for facilitating over $100 million in illicit transactions.
– Several key executives and associated companies in Russia and the Kyrgyz Republic are also sanctioned.
– Garantex has a history of rebranding to evade sanctions, with Grinex continuing its predecessor’s shady dealings.
– The U.S. Department of State offers rewards for information leading to the arrest of Garantex’s leadership.
– Over $300 million in cryptocurrency assets linked to cybercrime have been frozen by authorities.