Russia is quietly rebuilding a digital financial system that survives without Western approval. A new investigation now shows that Garantex the sanctioned Russian crypto exchange is far from dead. Instead it has slipped back into action through a fresh payout structure that moves millions across several chains. This activity fits into a much bigger shift in how Russia uses digital assets to keep global trade alive.
Global Ledger uncovered a detailed on chain system that proves Garantex is still operating even after Western pressure and a server seizure. Researchers tracked fresh Bitcoin and Ethereum wallets tied to the exchange. These wallets hold more than thirty four million dollars in crypto and more than twenty five million has already been paid out to old users. These transfers confirm that Garantex has quietly returned and that Russian actors are now leaning on new payout tools that help them stay out of sight.
The report explains that Garantex does not move funds in a simple line. Instead the exchange uses a layered payout structure made to hide the source of money. The team behind Garantex pushes reserves through mixing tools such as Tornado Cash. These mixers scramble the trail of the assets making it almost impossible to see where the funds originally came from. After that the exchange sends money through cross chain bridges that shift assets between networks like Ethereum Optimism and Arbitrum. At the end the funds land in aggregation wallets and from there they move to final payout wallets across the network.
A notable detail from the Global Ledger findings is that most Ethereum reserves remain untouched. More than eighty eight percent of the ETH linked to Garantex still sits in reserve. This suggests that the exchange is only in the first stage of its comeback and that a larger wave of payouts may follow later.
This renewed activity fits into a wider transformation in Russia. In early 2022 Russian officials wanted to ban crypto entirely. The central bank called digital assets a threat to financial safety. Yet by 2024 the story had flipped. Instead of rejecting crypto Russia began using it to support trade under sanctions. By 2025 the country had moved deeper into the world of blockchain based payments.
President Vladimir Putin backed a new payment network called A7. This system launched a stablecoin named A7A5 that is fully backed by the Russian rouble. The aim was to build a route for money to move in and out of the traditional banking system. Since launch the token has already supported more than eighty seven billion dollars in trade according to major blockchain firms. Russian businesses now convert roubles into USDT through A7A5 which lets them keep sending and receiving payments across borders even when banks refuse to handle transfers linked to Russia.
This shift shows how Russia is building a financial structure that does not depend on Western channels. At the same time the Garantex findings show that older crypto networks linked to Russia have not vanished. Instead they have adapted and now mirror the style of newer state backed tools. Garantex and A7A5 tell two sides of the same story. One is unofficial and hidden. The other is public and supported by the state. Yet both help Russia move money even under heavy pressure.
As these systems grow they reveal how digital assets are reshaping the global balance of power. New payment networks are giving states fresh ways to bypass sanctions and challenge the reach of traditional financial controls. The question now is how fast these alternative systems will expand and how much influence they will gain in the years ahead.
What impact will these parallel crypto networks have on future global trade and financial pressure tools?
