International Authorities Take Down Russian Cryptocurrency Exchange Garantex’s SiteÂ
Published on March 7, 2025
- U.S. authorities seized Moscow-based cryptocurrency exchange Garantex’s website.
- The firm stands accused of facilitating transactions for darknet markets and cybercriminals.
- Seizing domains associated with its administration and operation was part of an ongoing investigation.
An international coalition of law enforcement agencies has taken down the official website of Garantex, a Moscow-based cryptocurrency exchange accused of links to darknet markets and ransomware operations. Â
On Thursday, the official Garantex website was replaced with a seizure notice following a warrant issued by the U.S. Attorney’s Office for the Eastern District of Virginia. Â
Following the website seizure, Garantex announced on its Telegram channel that it was suspending all services, including cryptocurrency withdrawals. This decision came after stablecoin issuer Tether froze $28 million worth of assets on the platform.
Garantex acknowledged the challenges in a message to its users, vowing to "keep fighting" despite the setbacks.
A spokesperson for the Secret Service, Nate Herring, confirmed the action in a statement, noting that the agency seized domains associated with Garantex as part of an ongoing investigation. Details remain limited for now. Â
The U.S. Secret Service, in collaboration with the U.S. Department of Justice, the Federal Bureau of Investigation (FBI), Europol, and police forces from Germany, Finland, Estonia, and the Netherlands, carried out the operation.Â
Garantex has been in the spotlight for its alleged role in facilitating transactions for illicit actors. The U.S. Treasury previously sanctioned the platform in 2022, accusing it of facilitating over $100 million in transactions tied to darknet markets and ransomware groups, such as the notorious Conti gang and the now-defunct Hydra darknet market. Â
The European Union also sanctioned Garantex last month, citing its connections to Russian banks already subject to EU sanctions. The move was part of broader penalties against Russia related to its invasion of Ukraine. Â
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