The U.S. Treasury blacklisted a cryptocurrency network involving Russia’s ruble-backed stablecoin A7A5 and the closed exchange Garantex due to illegal operations and sanctions evasion post-March 2025 shutdown.
The sanctions highlight global enforcement against crypto-facilitated cybercrime, impacting stablecoin markets with immediate asset freezes and liquidity disruptions, emphasizing regulatory risks for similar platforms.
The U.S. Treasury has blacklisted a crypto network linked to a ruble-backed stablecoin, A7A5. This move, targeting the Garantex exchange which was shuttered in March 2025, along with its successor Grinex, aims to curb sanction evasion and cybercrime.
Aleksej Besciokov, the alleged operator of Garantex, was arrested, while Aleksandr Mira Serda remains at large with a $5 million reward for his capture. The new sanctions involve seizing domains, assets, and implementing law enforcement measures.
U.S. Treasury Blacklists Ruble-Backed Crypto Network
The U.S. Treasury blacklisted a crypto network linked to a ruble-backed stablecoin, A7A5. The move targeted Garantex, an exchange shuttered in March 2025, and its successor Grinex. The action aims to curb sanction evasion and cybercrime.
Aleksej Besciokov, alleged operator of Garantex, was arrested, while Aleksandr Mira Serda remains at large with a $5 million reward for his capture. The new sanctions involve seizing domains, assets, and implementing law enforcement measures.
Sanctions Freeze $28 Million in USDT, $26 Million Seized
The sanctions have resulted in a liquidity drop-off, with $28 million in USDT frozen and $26 million seized. The market saw a shift of funds, with users being redirected to Grinex, inheriting Garantex’s operations.
The financial impact involves disrupted crypto transactions and liquidity channels between the ruble and other stablecoins. Experts note the sanction’s role in targeting illicit activities, which aligns with historical enforcement measures against similar entities. John Hurley, Undersecretary of the Treasury for Terrorism and Financial Intelligence, U.S. Treasury, noted, “Garantex continues to facilitate cybercrime and sanctions evasion through its successor Grinex.”
Consistent Actions Against Crypto Platforms Suex and Chatex
U.S. actions are consistent with past sanctions against exchanges like Suex and Chatex, leading to closures or migration to successor platforms. Such actions result in reduced liquidity and diminished utility of tokens linked to these entities.
Experts from Crystal Intelligence emphasize the importance of sanctions in disrupting illicit transactions. Enforcement is crucial to maintaining order in cross-border crypto rails and mitigating regulatory risks tied to stablecoins linked to sanctioned entities.
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