- March 20, 2025
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Garantex, a sanctioned Russian crypto exchange, had its $27 million in Tether frozen in early March, and its operator was arrested in India less than a week later.
The shuttered crypto exchange Garantex has allegedly resurfaced under a new name after reportedly laundering millions in ruble-backed stablecoins and transferring them to a newly established exchange, claims a Swiss blockchain analytics firm.
Global Ledger claims the operators of the Russian exchange have shifted liquidity and customer deposits to Grinex, which they say is “Garantex’s full-fledged successor,” in a report released to X on March 19.
“The movement of funds, including the systematic transfer of A7A5 liquidity, the use of one-time-use wallets, and the involvement of addresses previously associated with Garantex, provides clear onchain proof of their link,” the Global Ledger team said in the report.
