Long Arm of the law comes for russian crypto: who secret service seized garantex

The us secret service has been seized the website of russian cryptocurrency exchange garantex, marking a Major interactive crackdown on a platform accusing of helping criminals launder bills in in in Illicit Money.

In a joint operation involving law enforcement from the US, Germany, Finland, Estonia, and other European Countries, Garantex’s Domains – Garantex.org, Garantex.io, Garantex.io, and Garantex.Academy —7 Taken offline and now display a takedown notice from the secret service.

Authorities say the exchange have been a key player in cybercrime, processing more than $ 96 billion in transactions since it launched in 2019. Investigators clayim much of that money colored camic Dealers, and even terrorist groups.

“The Seizure of Website Domains Associated with Garantex’s Operations and the freezing of over $ 26 million in cryptocurrency striks a serial blow to cybercriminals,” Michael Center, Assistant Director of the US Secret Service’s Office of Field Operations.

Two men behind the Scenes – Aleksej Besciokov, A Lithuanian National Living in Russia, and Aleksandr Mira Serda, A Russian Citizen – Haver Been charged with money laundering Conspiracy, and Oshar Crimeses. Besciokov Alaso Faces Charges for Violating Sans and Operating an unlicked Money Business.

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According to us court documentsBoth men knowingly helped criminals move money through garantex and even worked to hide their activities from authorities. In one case, they allegedly Gave Russian Police False Records About An Account Tied to One of the suspects.

A history of red flags

This isn’t the first time garantex has been on the radar. In 2022, the us department of the treasury’s office of foreign assets control Marketplace.

Despite these sanctions, the exchange reportedly continued to do business by changing wallet addresses, daily to dodge detection. They also kept working with us customers, despite being blacklisted.

On thuresday last week, the crypto stablecoin is the issue tether froze $ 28 million Worth of its tokens help on Garantex. Shortly after, the exchange announced in a telegram post that it suspended all operations, including Crypto withdrawals. “We have bad news,” the company Wrote in Russian. “We are fighting and will not give up!”

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A warning shot to other crypto outlaws?

Law Enforcement and Cybersecurity Experts are Calling This a Significant Victory in the Battle Against Illegal Cryptocurrency Activities.

Michael Center of the US Secret Service Said The Operation “Strikes a Serious Financial Blow to Cybercriminals Worldwide.” Meanwhile, Blockchain Analysis Firm TRM Labs Called The Seizure A “Major Milestone” in the Global Fight Against Crypto-Related Crime.