{"id":18273,"date":"2025-03-20T14:33:31","date_gmt":"2025-03-20T14:33:31","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=18273"},"modified":"2025-03-20T14:33:31","modified_gmt":"2025-03-20T14:33:31","slug":"despite-sanctions-and-arrests-russias-garantex-remerges-as-grinex","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=18273","title":{"rendered":"Despite Sanctions And Arrests, Russia\u2019s Garantex Remerges As Grinex"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">A recent <\/span><a href=\"https:\/\/globalledger.io\/shared-files\/2037\/?One_more_Garantex\" target=\"_blank\" rel=\"nofollow\"><span style=\"font-weight: 400\">report<\/span><\/a><span style=\"font-weight: 400\"> from Swiss blockchain analytics firm Global Ledger revealed that the sanctioned Russian crypto exchange Garantex has resurfaced under the name Grinex.\u00a0<\/span><\/p>\n<p>\u201cAfter the Garantex website was taken down and its wallets were frozen, the sanctioned exchange provides access to crypto services through an alternative platform, Grinex,\u201d said Global Ledger.<\/p>\n<p>By mid-March, Grinex had already received over $29 million.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/203c.png\" alt=\"\u203c\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\">Compliance alert: <a href=\"https:\/\/twitter.com\/hashtag\/Garantex?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#Garantex<\/a> founders launch a new platform<\/p>\n<p>1\/ Following Garantex\u2019s shutdown and <a href=\"https:\/\/twitter.com\/hashtag\/Tether?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#Tether<\/a> freezing its wallets, the founders have launched Grinex. Here\u2019s what we\u2019ve uncovered <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f447.png\" alt=\"\ud83d\udc47\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> <a href=\"https:\/\/t.co\/m28einnisn\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/m28einnisn<\/a><\/p>\n<p>\u2014 Global Ledger (@GlobalLedger) <a href=\"https:\/\/twitter.com\/GlobalLedger\/status\/1902411970306781541?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">March 19, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">Garantex has been implicated in laundering over $96 billion in illicit funds. The firm faced coordinated enforcement actions from the US and the European Union (EU). In fact, just last week, Indian authorities arrested the founder of Garantex, Aleksej Besciokov, in the South Indian state of Kerala.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">On America\u2019s request, Besciokov has been arrested for facilitating money laundering by transnational criminal organizations, including terrorist organizations, and sanctions violations.<\/span><\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/guides\/india-arrests-us-doj-indicted-russian-crypto-exchange-garantex-administrator\/\">India Arrests US DoJ Indicted Russian Crypto Exchange Garantex Administrator<\/a><\/strong><\/p>\n<h2><b>Garantex And Grinex Are Directly Connected, Both On-Chain And Off-Chain<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The Swiss analytics firm said that it can confidently conclude that Grinex and Garantex are directly connected both on-chain and off-chain.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Grinex has reportedly inherited much of Garantex\u2019s user base and financial operations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Swiss blockchain analytics firms have uncovered that over $60 million worth of ruble-backed stablecoins (A7A5) were laundered and funneled into Grinex during its transition.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThe movement of funds, including the systematic transfer of A7A5 liquidity, the use of one-time-use wallets, and the involvement of addresses previously associated with Garantex, provides clear on-chain proof of their link,\u201d Global Ledger said. \u201cAdditionally, off-chain indicators, such as transactional patterns, commentaries and exchange behaviours, further reinforce this connection.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Advanced crypto laundering techniques\u2014such as burning and minting mechanisms\u2014were employed to make new stablecoins appear \u201cclean,\u201d allowing the platform to evade detection.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-ai-crypto-coins\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Best AI Crypto Coins to Invest in 2025<\/span><\/a><\/strong><\/p>\n<h2><strong>Enforcement Actions Faced By Garantex\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Garantex\u00a0has been on the radar of international regulatory authorities for some time. The exchange was blacklisted by the US Treasury\u2019s Office of Foreign Assets Control (OFAC) in April 2022.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In recent enforcement actions, authorities froze $28 million in assets tied to Garantex and seized its domains. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Stablecoin issuer Tether also stepped in to freeze $27 million worth of funds, disrupting withdrawal services for users.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Despite these efforts, Garantex managed to rebrand itself as Grinex, transferring liquidity and customer funds to the new platform.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/analysis\/crypto-forecast-best-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<p><span style=\"font-weight: 400\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <\/li>\n<p><\/span> <span style=\"font-weight: 400\">The Swiss analytics firm said that it can confidently conclude that Grinex and Garantex are directly connected both on-chain and off-chain.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <\/li>\n<p><\/span> <span style=\"font-weight: 400\">Grinex has reportedly inherited much of Garantex\u2019s user base and financial operations.<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/guides\/despite-sanctions-and-arrests-russias-garantex-remerges-as-grinex\/\">Despite Sanctions And Arrests, Russia\u2019s Garantex Remerges As Grinex<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A recent report from Swiss blockchain analytics firm Global Ledger revealed that the sanctioned Russian crypto exchange Garantex has resurfaced under the name Grinex.\u00a0 \u201cAfter the Garantex website was taken down and its wallets were frozen, the sanctioned exchange provides access to crypto services through an alternative platform, Grinex,\u201d said Global Ledger. By mid-March, Grinex [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-18273","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18273"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18273\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}