The US Secret Service seized the website of Garantex, a Russia-based cryptocurrency exchange, as part of an international cooperation initiative. The reason cited for this action is Garantex’s potential connections with sanctioned Russian banks and criminal organizations. This operation followed closely after Tether froze 28 million USDT on Garantex, leading to further scrutiny of the exchange, which has previously been associated with illicit activities, including those linked to the darknet and ransomware demands.
Investigation Process Behind the Operation
The Secret Service announced that the operation was conducted under a court order issued by the U.S. Attorney’s Office for the Eastern District of Virginia. Nate Herring, a spokesperson for the Secret Service, stated that the investigation is ongoing, and authorities plan to share additional information in the coming days. This operation is part of a larger investigation tied to allegations that Garantex is linked to criminal organizations.
Furthermore, the U.S. Treasury Department and other agencies had previously imposed sanctions on Garantex. These sanctions were based on allegations that the exchange was connected to players involved in illegal activities. This development indicates that international bodies are deepening their investigations into this platform.
Tether’s USDT Freeze and Garantex’s Response
The operation was followed by Tether freezing 28 million USDT on Garantex. The wallets that Tether blocked were reportedly linked to transactions associated with criminal organizations. Garantex announced via its Telegram channel that Tether had frozen wallets worth 2.5 billion rubles and that all its services had been temporarily suspended. This situation forced the exchange to halt its operations.
Garantex has gained attention in the past due to allegations of connections with criminal activities. Tether’s actions, along with the US Secret Service’s operation, highlight the extent of these criminal activities. Authorities are preparing to provide more information about the scope of the investigation.
