Garantex still travels millions of dollars on cryptocurrencies despite sanctions of Stablecoin
Despite freezing $ 26 million Tether (USDT) in an international sanctioning campaign, Russia's Garantex cryptocurrency trading floor is still operating millions of other assets silently and strategically.
🔍 More than 15 million USD is still "living" out of control
According to a new report from the Global Ledger, after the US and Finnish freezing campaign in collaboration with Germany and Finland in early March, Garantex remained over 15 million USD of unexpected property on blockchain such as Ethereum, Bitcoin and BNB Chain. Of these, a significant amount has been recorded as moving, or being prepared for use.
🌪️ Tornado cash: Tool "fade" cash flow
Notably, the Ethereum wallet associated with Garantex has been silent for months - suddenly operating back on the date of the published sanctions (March 6), and currently holds more than 3,265 ETH (~ 8.6 million USD). From May 22 to June 4, about 844.99 ETH (~ 2.25 million USD) was transferred to Tornado Cash, the famous anonymous mixing tool - making tracing almost impossible.
Global Ledger describes this as a "coordinated liquidity flow", showing an organized and sophisticated money laundering effort.
💸 Trace on Bitcoin and multi -strategy strategy
Not only Ethereum, Garantex has also been found to store 30.04 BTC (~ 3.17 million USD) after increasing from 19.39 BTC since March. Part of this BTC has been transferred to the bridge to Tron, then transferred to Grinex - the platform suspected to be the unofficial successor of Garantex.
According to CEO Global Ledger Lex Fisun, the use of tron is not coincidentally:
"Tron has low cost, fast speed and very suitable to swap assets to Stablecoin. This is the least resistance path in the current Blockchain ecosystem."
Fisun also emphasized:
"Even the non -subsidy tokens only takes a few cents to trade with USDT, the cost is almost zero."
🧩 Grinex successor in the dark?
All Garantex's assets were quickly withdrawn immediately after the freezing order was issued and sent directly to the wallet links with Grinex, according to the Global Ledger. Although there is no official confirmation, the on-chain evidence is increasingly consolidating the theory that Grinex is Garantex's "new silhouette" on a decentralized market.
⚠️ Warning: Global challenges in Blockchain punishment
The Garantex case shows that traditional financial sanctions may not be strong enough in the world of digital assets. With protocols like Tornado Cash and chains like Tron, cash flows can be washed and moved across the border without being controlled.
"We are witnessing a new battle between decentralized blockchain technology and global financial enforcement agencies," - an expert from the Chainalysis.
🔚 Conclusion
Garantex may have lost millions of USDT, but the rest of the property warehouse continues to "live" and even reborn in the new form. This story is a strong reminder that no sanctions are absolute, if the technology has not kept up with the speed of "underground" organizations in the web3 world.
