Russian-registered Grinex exchange hit by US sanctions

The US Treasury Department’s Office of Foreign Assets Control (OFAC) has imposed sanctions against the Russian exchange Grinex.

The agency blacklisted Grinex because it is considered the successor to the trading platform that was closed in March 2025. Garantex, which the Americans accused of processing illegal transactions worth more than $100 million. In addition, OFAC officials sanctioned the following individuals and entities:

• Co-founder Garantex Sergei Mendeleev;
• Co-owner Garantex Alexandra Mira Serdu;
• Co-owner Garantex Pavel Karavatsky;
• The issuer of ruble stablecoins A7A5 is the Kyrgyz company Old Vector;
• A7, a company that operates a platform for making cross-border transfers;
• Decentralized financial services provider InDeFi Bank;
• Payment platform Exved.

The above organizations are considered accomplices. Garantex, which was allegedly used by cybercriminals to launder money. Among them could be the developers of the ransomware viruses Conti, Black Basta and LockBit, which attacked American companies, among others.

To capture the leaders Garantex, The US State Department has announced a reward of up to $5 million for information leading to the arrest of Mira Serda. The heads of Mendeleyev, Karavatsky and other people who held key positions are being offered $1 million each.

Reward Announcement for the Capture of Alexander Mira Serda

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