---
title: "War on Crypto Crime: US Sanctions Russian Crypto Exchanges"
description: US sanctions Russian crypto exchanges Garantex and Grinex for aiding ransomware operations, spotlighting the ongoing crackdown on illicit cyber-finance.
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---

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 Aug 16, 2025 1:00:53 PM

# War on Crypto Crime: US Sanctions Russian Crypto Exchanges

![Picture of Randy Cooper](https://app.hubspot.com/settings/avatar/c5808e6832ca5d4b1b61053f9a32046d) [Randy Cooper](https://buzzmybiz.co/blog/author/randy-cooper)

#### ![The image depicts a stark modern office environment with large windows overlooking a bustling cityscape at dusk The room is filled with hightech screens displaying dynamic graphs and data related to cryptocurrency transactions In the foreground a div](https://buzzmybiz.co/hs-fs/hubfs/AI-Generated%20Media/Images/The%20image%20depicts%20a%20stark%20modern%20office%20environment%20with%20large%20windows%20overlooking%20a%20bustling%20cityscape%20at%20dusk%20The%20room%20is%20filled%20with%20hightech%20screens%20displaying%20dynamic%20graphs%20and%20data%20related%20to%20cryptocurrency%20transactions%20In%20the%20foreground%20a%20div.png?width=400&height=400&name=The%20image%20depicts%20a%20stark%20modern%20office%20environment%20with%20large%20windows%20overlooking%20a%20bustling%20cityscape%20at%20dusk%20The%20room%20is%20filled%20with%20hightech%20screens%20displaying%20dynamic%20graphs%20and%20data%20related%20to%20cryptocurrency%20transactions%20In%20the%20foreground%20a%20div.png)The Latest Sanctions Shakeup

On August 15, 2025, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) ramped up its crackdown on illicit cyber-finance by renewing sanctions against **Garantex**, a Russian cryptocurrency exchange at the heart of ransomware money laundering. Not stopping there, OFAC also targeted **Grinex**, Garantex’s successor, along with three of its co-founders and six related entities based in Russia and Kyrgyzstan.

#### A Deep Dive into the Network

This sweeping action underscores a sprawling support https://thehackernews.com/2025/08/us-sanctions-garantex-and-grinex-over.html aiding cybercriminals. Sanctions were extended to individuals like **Sergey Mendeleev**, **Aleksandr Mira Serda**, and **Pavel Karavatsky**, plus firms such as **InDeFi Bank**, **Exved**, **Old Vector**, **A7 LLC**, **A71 LLC**, and **A7 Agent LLC**. These actors were instrumental in perpetuating illicit transactions and attempting to give the operations a veneer of legitimacy.

#### A History of Evasion and Rebranding

Garantex had been under scrutiny since April 2022, originally sanctioned for facilitating shady darknet transactions tied to Hydra, Conti, and ransomware operations. Then, after its web infrastructure was seized in March 2025 and co-founder Aleksej Besciokov was arrested in India, analysts quickly traced the creation of Grinex. This new exchange popped up on Telegram channels closely affiliated with Garantex—complete with a nearly identical interface, messaging a disturbing continuity.

#### The Monetary Machinery: A7A5 Token & Beyond

Behind the scenes, Garantex used a ruble-pegged stablecoin called **A7A5**, issued via Old Vector (a Kyrgyz entity), to facilitate fund transfers—including for ransomware gangs like Ryuk—making it harder for regulators to trace.Reports indicate that the A7A5 token has moved staggering sums, with billions funneled through Grinex in just months.

#### Implications & What’s Next

These sanctions send a potent message: crypto platforms that knowingly facilitate criminal activity won’t escape scrutiny—or sanctions. With Grinex stepping into Garantex’s shoes, it’s clear that efforts to rebrand or evade enforcement are unlikely to succeed. The U.S. State Department is even offering up to **$5 million** for info leading to the arrest of key figures like Serda—and **$1 million** for others tied to the network.

SOURCE: [https://thehackernews.com/2025/08/us-sanctions-garantex-and-grinex-over.html](https://thehackernews.com/2025/08/us-sanctions-garantex-and-grinex-over.html)

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