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U.S. Sanctions Garantex and Grinex for $100M in Ransomware-Linked Illicit Crypto Transactions

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The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) renewed sanctions against the Russian cryptocurrency exchange Garantex and its successor, Grinex, for facilitating over $100 million in transactions linked to ransomware and other cybercriminal activities since 2019. The sanctions target three executives of Garantex and six associated companies in Russia and the Kyrgyz Republic. Garantex was initially sanctioned in April 2022 for facilitating transactions from darknet markets and illicit actors. Garantex's website was seized in March 2025, and its co-founder, Aleksej Besciokov, was arrested in India. Grinex, identified as Garantex's successor, continued processing illicit transactions, with 82% of its volume linked to sanctioned entities.

Timeline

  1. 15.08.2025 14:27 📰 1 articles · ⏱ 1mo ago

    U.S. renews sanctions against Garantex and Grinex for $100M in ransomware-linked transactions

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) renewed sanctions against Garantex and its successor, Grinex, for facilitating over $100 million in transactions linked to ransomware and cybercriminal activities since 2019. The sanctions target three executives of Garantex and six associated companies in Russia and the Kyrgyz Republic. Grinex, identified as Garantex's successor, continued processing illicit transactions, with 82% of its volume linked to sanctioned entities. The U.S. Department of State announced rewards for information leading to the arrest of key Garantex leaders, and the U.S. Department of Justice seized assets linked to Zeppelin ransomware.

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