American authorities have intensified their fight against illicit cryptocurrency activity, unveiling a large-scale enforcement effort against Garantex, a Russian-linked exchange accused of serving as a financial hub for cybercrime.
According to officials, the platform has facilitated billions of dollars in suspect transactions tied to ransomware schemes, hacking operations, and even terrorism financing.
Cash Rewards for Intelligence
The U.S. State Department has placed a multimillion-dollar bounty on the heads of Garantex’s leadership. Up to $5 million is being offered for information leading to the capture of Russian national Aleksandr Mira Serda, while an additional $1 million is earmarked for tips on other senior members of the operation.
Potential informants are being urged to reach out through secure U.S. Secret Service communication channels.
Treasury Sanctions New and Old Operations
In parallel, the Treasury Department’s Office of Foreign Assets Control (OFAC) has reinforced its previous sanctions on Garantex and expanded them to include Grinex, which investigators believe was created as a replacement exchange.
Sanctions have also been placed on three top executives and six associated companies in Russia and Kyrgyzstan, effectively isolating them from the U.S. financial network.
Investigators allege that between April 2019 and March 2025, Garantex handled more than $96 billion in cryptocurrency transfers – a significant portion of which was linked to criminal enterprises.
Cracking Down on the Crypto Crime Pipeline
By hitting both the original platform and its alleged successor, Washington aims to disrupt the continuity of operations for criminal groups that rely on crypto’s speed and anonymity. The move underscores an evolving U.S. strategy: targeting the digital infrastructure that allows illicit funds to move quickly across borders without oversight.
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Source: https://coindoo.com/u-s-launches-major-offensive-against-russian-crypto-exchange/