Garantex
A Russian-run crypto exchange that the U.S. DOJ says processed at least $96B since 2019 while laundering proceeds for ransomware crews, darknet markets, and North Korea's Lazarus Group. Sanctioned by OFAC in 2022; its infrastructure was seized in March 2025 and two administrators were indicted.
Also known as: Garantex, Grinex
Summary
Garantex was a cryptocurrency exchange that, according to the U.S. DOJ, processed at least $96 billion in transactions between 2019 and 2025 and knowingly served as a laundering conduit for transnational criminal and terrorist organizations, ransomware operators, darknet markets, and North Korea-linked hackers. [1][2]
Sanctions and takedown
OFAC sanctioned Garantex in 2022; prosecutors say its operators then "redesigned" operations to evade sanctions and keep transacting. On March 7, 2025, the U.S. — with Germany and Finland — seized Garantex's domains (garantex.org/.io/.academy) and froze more than $26 million, and the Eastern District of Virginia unsealed an indictment against two administrators. [1][2]
The operators
Aleksej Besciokov was Garantex's primary technical administrator (reviewing/approving transactions); Aleksandr Mira Serda was its co-founder and chief commercial officer. Besciokov was arrested in Kerala, India on March 11, 2025. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
- Aleksej BesciokovPrimary technical administratorIndividualsLithuanian national and Russian resident named by the U.S. DOJ as Garantex's primary technical administrator. Charged in March 2025 with money-laundering, sanctions, and unlicensed-money-transmitting conspiracies; arrested in India.
- Aleksandr Mira SerdaCo-founder & CCOIndividualsRussian national (formerly Aleksandr Ntifo-Siaw), co-founder and chief commercial officer of Garantex. Charged by the U.S. DOJ in March 2025 with money-laundering conspiracy over the exchange's role in laundering criminal proceeds.
Sources (2)
See also
- Blockchain Terminal (BCT)TokensA 2017–2018 ICO (BCT tokens, ~$30M) for a 'Blockchain Terminal' — a Bloomberg-style crypto trading terminal. The SEC and DOJ said convicted ex-hedge-funder Boaz Manor secretly ran it under a fake identity ('Shaun MacDonald'), using associate Edith Pardo as a front, and lied about the product's adoption.
- Dropil (DROP)TokensAn ICO for the DROP token built around a fake 'Dex' trading bot. The SEC said it raised ~$1.9M while claiming $54M from 34,000 investors, and that the founders falsified evidence during the probe. Founders Jeremy McAlpine and Zachary Matar pleaded guilty to securities fraud (36 and 30 months).
- CluCoin (CLU)Tokens
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