U.S. Sanctions Garantex and Grinex Over $100M in Ransomware-Linked Illicit Crypto Transactions
Aug 15, 2025
Cryptocurrency / Financial Crime
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) on Thursday renewed sanctions against Russian cryptocurrency exchange platform Garantex for facilitating ransomware actors and other cybercriminals by processing more than $100 million in transactions linked to illicit activities since 2019. The Treasury said it's also imposing sanctions on Garantex's successor, Grinex , as well as three executives of Garantex and six associated companies in Russia and the Kyrgyz Republic that have enabled these activities - Sergey Mendeleev (Co-founder) Aleksandr Mira Serda (Co-founder) Pavel Karavatsky (Co-founder) Independent Decentralized Finance Smartbank and Ecosystem (InDeFi Bank) Exved Old Vector A7 LLC A71 LLC A7 Agent LLC "Digital assets play a crucial role in global innovation and economic development, and the United States will not tolerate abuse of this industry to support cybercrime and sanctions evasion," said Under Secretar...
