Grinex exchange suspected rebrand of sanctioned Garantex crypto firm

A new cryptocurrency exchange named Grinex is believed to be a rebrand of Garantex, a Russian cryptocurrency exchange whose domains were seized by the U.S. authorities and an admin arrested. According to a new report by blockchain intelligence firm TRM Labs, Grinex shows strong ties to Garantex's previous operations but has not determined if it's currently being used for illicit transactions. Garantex was a Russian cryptocurrency exchange, officially registered in Estonia, that was sanctioned by the U.S. (OFAC) in April 2022, followed by similar actions by the UK and the EU. U.S. authorities seized Garantex's domains in early March 2025 for multiple violations, including the processing of $100 billion worth of illicit transactions and facilitating money laundering for ransomware gangs and darknet markets. TRM Labs confirmed transactions with the Conti ransomware group and the dark web markets Hydra, Mega, Kraken, OMG!OMG! And Solaris. Two administrators of Garantex, Aleksej Bescio ... Read full article.