The U.S. Department of Justice (DOJ) has confirmed the blocking of Garantex domains and the freezing of $26 million in wallets belonging to the crypto exchange.

According to the press release, the trading platform facilitated money laundering for transnational criminal organizations, including terrorist groups, and violated international sanctions. Since 2019, the exchange has processed at least $96 billion in digital asset transactions.

The DOJ conducted the operation in coordination with law enforcement agencies in Germany and Finland.

As part of the case, U.S. authorities have charged Lithuanian citizen Alexey Beschekov and Russian national Alexander Mira Serda (formerly Alexander Ntifo-Siao), who resides in the UAE. They are accused of conspiracy to launder money, sanctions violations, and operating an unlicensed money transfer business, facing up to 20 years in prison.

“According to court documents, from 2019 to 2025, Beschekov and Mira Serda controlled and managed Garantex. Beschekov served as the exchange’s chief technical administrator, responsible for maintaining its critical infrastructure and approving transactions. Mira Serda was a co-founder and chief commercial officer of Garantex,” the DOJ stated.

Authorities believe the defendants were aware of illicit funds being laundered through their platform and took steps to conceal these activities. Even after sanctions were imposed on Garantex in 2022, the exchange’s executives continued their illegal activities.

The DOJ also announced the seizure of Garantex’s domains—Garantex.org, Garantex.io, and Garantex.academy—as they were used for the platform’s administration. Law enforcement agencies in Germany and Finland seized the exchange’s servers.

“Authorities obtained earlier copies of Garantex’s servers, including client and financial databases. Additionally, U.S. law enforcement froze more than $26 million in funds used to facilitate money laundering activities,” the statement read.

The U.S. Secret Service and the FBI are leading the ongoing investigation.

At the end of the press release, U.S. Treasury officials thanked Tether and Elliptic for their active assistance in the investigation.

On February 24, 2025, the EU included Garantex in its 16th sanctions package against Russia, citing the exchange’s role in evading restrictions.