Rebeca Moen
March 11, 2025 03:21
Authorities in the United States, Germany and Finland have dismantled the Russian encryption Garantex to seize the domain and adjust illegal funds to hit a significant blow to the cyber crime economy.
In the joint international operation, the US Department of Justice, along with the authorities of Germany and Finland, dismantled the Russian cryptocurrency exchange. The exchange was famous for its deep involvement in the cyber crime economy, according to chain analysis.
The operation, which was held on March 7, 2025, seized the Garan Tex domain and server in Germany and Finland, and more than $ 26 million in illegal funds. ALEKSEJ Besciokov and Aleksandr Mira Serda, the manager of the exchange, have filed a criminal charges.
The role of Garan Tex in illegal activities
Garan tex was not only an unprovable encryption exchange, but also the cornerstone of the Russian illegal encryption economy. Despite being sanctioned by the US Treasury Foreign Asset Control Bureau (OFAC) in April 2022, we continued to promote the money laundering of ransomware groups, dark net markets and other sanctions companies. The exchange is said to have dealt with at least $ 96 billion in transactions since 2019.
This exchange has influenced many US -based victims by playing a pivotal role in the money laundering of notorious ransomware groups such as Conti, Black Basta and Play. In addition, millions of people have moved to the Darknet market, drug trafficking and child sexual abuse.
Influence and inspection of chain activity on the Garan Tex
Garantex was one of the most platforms for money laundering in the encryption ecosystem, and illegal activities accounted for at least 1.35%of the total trading. This figure is considerably higher than the 0.14%commonly found on the centralized exchange, which is over $ 1.3 billion in illegal funds.
EXCHANGE’s onchain connection included a variety of illegal institutions, from fraud and theft funds to ransomware operations and illegal product suppliers. Garan Tex managers have taken measures to hide these activities, such as providing false information to the Russian authorities and changing their wallet addresses to bypass their measures.
Future influence and international efforts
As the core infrastructure is dismantled, Garantex’s illegal customer base will find a new channel for laundry. This can lead to a network of smaller, less detectable platforms, reminiscent of the appearance of subsequent exchange or the closed after the closed wave of Hydra Market.
Garantex’s successful dismantling emphasizes the power of international cooperation and high -end blockchain intelligence that fights cyber crime. As global law enforcement agencies and blockchain analysis companies, such as chain analysis, continue to strengthen their partnerships, the ability to use cryptocurrency is increasingly limited.
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