The United States Department of Justice (DOJ) has brought charges against the administrators of the Russian cryptocurrency exchange Garantex for facilitating money laundering and violating international sanctions. Aleksej Besciokov, a 46-year-old Lithuanian national residing in Russia, and Aleksandr Mira Serda, a 40-year-old Russian national based in the United Arab Emirates, are accused of conspiring to launder funds for criminal organizations. The DOJ alleges that Garantex processed over $96 billion in cryptocurrency transactions since April 2019. Both defendants were aware of the platform's involvement in illegal activities, including hacking, ransomware attacks, drug trafficking, and terrorism. Authorities have seized Garantex’s domains and servers, freezing more than $26 million in illicit funds.

In a coordinated operation involving law enforcement from Germany and Finland, U.S. authorities have taken control of Garantex’s digital infrastructure. Besciokov faces additional charges for operating an unlicensed money-transmitting business and violating the International Emergency Economic Powers Act. If convicted, he could face up to 45 years in prison, while Mira Serda could serve up to 20 years. Mira Serda served as Garantex’s co-founder and chief commercial officer, while Besciokov was responsible for maintaining the platform’s critical infrastructure and overseeing transactions.

Garantex has been under scrutiny for its role in facilitating illicit financial activities. In 2022, the Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned the exchange after identifying connections to darknet markets and cybercrime operations. Despite losing its Estonian license due to non-compliance with anti-money laundering regulations, Garantex continued to operate through unconventional means. The European Union also imposed sanctions on Garantex, leading to Tether blocking the exchange’s wallets, which forced it to suspend services temporarily.

This week’s seizure marks a significant blow to Garantex’s operations. The U.S. government obtained copies of the servers, including customer databases and accounting records, providing valuable evidence for ongoing investigations. The case underscores the global effort to combat the misuse of cryptocurrency platforms for illegal activities. Authorities remain vigilant in their pursuit of entities that facilitate financial crimes, ensuring that those involved face legal consequences.