Global Ledger, an organization that gives a crypto anti-money laundering tool set (Crypto anti-money laundering), has identified over $ 15 million of lively reserves from Crypto Exchange Garantex, a few of that are in motion.
According to the report by Global Ledger, a dormant Garantex ethers began on March sixth ether (ETH), which finally drove 2.3 million US dollars at ETH to Tornado bargain. This wallet still has 6.1 million US dollars at ETH, which is stagnating.
Garantex ETH flows. Source: Global Ledger
The same pattern was found for Bitcoin (BTC) parts, the report says. About 2.2 BTC were transferred to the TRON network after which partially transferred to Grinex.
“The Garantex case undermines the illusion of the control, which many are still adhering to,” said Lex Fisun, co -founder and CEO of Global Ledger, in comparison with cointelegraph. “15 million dollars that move freely through dark chains and mixers just isn’t a legislative company – it’s a failure to implement sanction enforcement.”
On March sixth, Tether frozen $ 27 million on Garantex (USDT). On the identical day, the stock exchange stopped the business and claimed that “Tether entered the war against the Russian cryptoma market and blocked our wallets value greater than 2.5 billion rubs [$27 million]. “”
In April 2022, the US Ministry of the Ministry of Finance for Foreign Assets (OFAC) was the primary company to issue sanctions against Garantex. According to the financial department, the exchange AML and other requirements of some supervisory authorities had not taken into consideration crypto exchanges. The European Union would follow sanctions on February 24, 2025.
On March 12, Garantex said that founder Aleksej Bešciokov was arrested together with his family on vacation in India. It could possibly be delivered to the United States, where it’s exposed to several conspiracy fees, including conspiracy to commit money laundering.
Russia reacts to the freezing of the Tether
On April 17, an official of the Russian Ministry of Finance, Osman Kabaloev, said reported that the country should develop its stable coin. The remarks got here for a month after the Tether freezing on USDT in articles that were connected to Garantex.
“We don’t set any restrictions on using stable coins throughout the experimental legal regime,” Kabaloev told TASS, a state news agency. “The latest developments have shown that this instrument can represent us risks.”
On April 24, the Russian Ministry of Finance and the central bank reported that they desired to launch a cryptocurrency exchange for “super qualified” investors.
