Global Ledger, a company that provides a crypto anti-money laundering (AML) toolet, has recognized Over $ 15 million in active reserves from the Crypto Exchange Garantex, some of which are on the move.
According to the Global Ledger report, a dormant Garantex Ethereum wallet began to accumulate ether (Eth) On March 6, it was eventually $ 2.3 million in ETH to Tornado Cash. That purse holds $ 6.1 million in ETH, which remains motionless.
The same pattern was found for Bitcoin (Btc) Holdings, says the report. About 2.2 BTC has been -bridged on the Tron network, then slightly moved to Grinex.
“The Garantex case is disturbing the illusion of control that many still cling to,” Ledger and CEO’s global cointelegraph cointelegraph told Cointelegraph. “The $ 15 million moves through hidden chains and mixers is not a failure of law – this is a failure of implementing the penalty.”
On March 6, Tether Frozes $ 27 million USDT (USDT) in Garantex. On the same day, the exchange stopped operations, claiming that “Tether entered the war against the Russian crypto market and blocked our purses worth more than 2.5 billion rubles ($ 27 million).”
In April 2022, the US Department of Treasury’s Office of Foreign Assets Control (OFAC) became the first creature to issue penalties Against Garantex. According to the Treasury Department, the exchange of AML and other requirements imposed by some crypto exchanges have ignored the AML and other requirements. The European Union will follow with sanctions on February 24, 2025.
On March 12, Guarantex said founder Aleksej Bešikov was arrested While on vacation in India with his family. He may be temporarily in the United States, where he faces many conspiracy charges, including conspiracy to make money laundering.
Related: US penalties 8 Crypto Wallets tied to Garatex Exchange and Yemeni Houthis
Russia responds to Tether’s Firing
On April 17, a Russian financial ministry officer Osman Kabaloev, reportedly said that the country should develop its stablecoin. Comments came around a month after Tether’s tethestra its freeze in the USDT on the dompets linked to Garantex.
“We have not imposed restrictions on the use of stablecoins within the experimental legal regime,” Kabaloev told Tass, a state-owned news agency. “Recent developments have shown that this instrument can pose risks for us.”
On April 24, the Russian Finance Ministry and Central Bank reported revealed that they planned to launch a cryptocurrency exchange For investors “super-qualified”.
Magazine: Tornado Cash 2.0 – The race to build safe and legal coin mixers
