U.S. Targets Russian-Linked Crypto Exchange Garantex in Major Crackdown

American authorities have launched a sweeping enforcement campaign against Garantex, a cryptocurrency exchange accused of acting as a key financial channel for cybercrime.

Officials allege the platform has processed billions in illicit transactions tied to ransomware groups, hacking networks, and even terrorist organizations.

Multi-Million Dollar Rewards for Information

The U.S. State Department is offering up to $5 million for intelligence leading to the capture of Russian national Aleksandr Mira Serda, a senior figure at Garantex. An additional $1 million is available for tips on other top members. Potential informants are encouraged to use secure U.S. Secret Service channels.

Sanctions Tighten Around Garantex Network

The Treasury Department’s Office of Foreign Assets Control (OFAC) has not only reaffirmed sanctions on Garantex but also extended them to Grinex, a suspected replacement exchange. Three executives and six affiliated companies in Russia and Kyrgyzstan have been blacklisted, cutting them off from the U.S. financial system.

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Massive Criminal Flow Through the Exchange

Investigators claim that from April 2019 to March 2025, Garantex moved over $96 billion in cryptocurrency, with a substantial share linked to illegal activity. The coordinated U.S. response underscores a growing focus on disrupting crypto platforms seen as enablers of global cybercrime.