Treasury’s US department has announced sanctions against Ginex, which is the successor of the Russian Cryptocurrency Exchange Gurantex, which was earlier approved to help the ransomware gangs to help loot their money.
A TRM labs report released in April revealed that Ginex had strong connections for the previous operation, but stopped providing evidence that it was being used for illegal transactions.
After seizing the domain of the Garantax by US authorities in March 2025, Grinux was promoted to Telegram channels associated with Garentax soon after seizing the domain of Garentx for illegal transactions for illegal transactions of about $ 100 million and looting money for cyber criminal. Two guaranteex administrators, Alexandra Meera Sera and Alexz Beskikov were later charged, in which Bascicov was arrested after days during a holiday in India.
After association with darkness markets and cybercrime groups, Hydra Dark Web Market, Notorious Conty Rains-e-Service (RAAS) operation, and Black Basta, Lockbit, Netwoker, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Raik, Foker, Rike, Rike, and Foker, Rike, and Foker, Rike, And Foker, Rike, And Foker, Rike, and Foker, Rike, and Focner
“Immediately after the law enforcement operations of March 6, 2025 led by the US Secret Service, Garantax authorities created a infrastructure to continue to provide key services to the gantax, especially transferred the Garantex customer deposit to Grinex,” Ofac said On Thursday.
“Grinex’s promotional material suggests that the exchange was formed in response to restrictions and assets that affects the gentlex. Since its construction, Ginex has facilitated transfer of billions of dollars to the cryptocurrency transactions.”
Yesterday, ofac has also renewed sanctions against Garantex, its three co-founders (Sergei Mendelive, Alexandr Meera Sera, and Pavel Karawatski), and six fellow companies in Russia and Kyrgyzstan, including indefinite banks, expledged, old vectors, A71, A71, and A7 Agents.
On Thursday, the state department also announced Reward of up to $ 6 million For any information, leading for arrest or punishment of guaranteex officers.
Treasury for Terrorism and Financial Intelligence of John. Hurley said, “exploitation of cryptocurrency exchanges not only endanger our national security to rob money and convenience of ransomware attacks, but also tarnishes the reputation of legitimate virtual asset service providers.” “By highlighting these malicious actors, the Treasury committed and supports the integrity of the digital asset industry.”
The state department said that Garntux processed more than $ 96 billion in the cryptocurrency transactions between April 2019 and March 2025.
The passwords broke in 46% of the atmosphere, almost doubled by 25% last year.
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