Uncovering $15 Million in Crypto Reserves At Garantex Exchange

Global Ledger, a company specializing in crypto Anti-Money Laundering (AML) tools, has discovered over $15 million in active reserves at the Garantex exchange. A dormant Garantex Ethereum wallet has been accumulating Ether since March 6, with $2.3 million transferred to Tornado Cash. The wallet still holds $6.1 million in ETH. Similar patterns were observed with Bitcoin holdings, with some BTC bridged to the TRON network and Grinex. This revelation challenges the notion of control in the crypto space, highlighting the failure of sanction enforcement. Tether froze $27 million on Garantex, leading to the exchange's temporary shutdown. Garantex faced sanctions from the US Treasury and the EU for disregarding AML regulations. Founder Aleksej Bešciokov's arrest in India on conspiracy charges further complicates the situation. Russia is considering developing its stablecoin following Tether's actions. The Russian finance ministry and central bank also plan to launch a cryptocurrency exchange for elite investors. Read more AI-generated news on: https://app.chaingpt.org/news