Long Arm of the Law Comes for Russian Crypto: Why Secret Service Seized Garantex

Authorities say Garantex has processed more than $96 billion in transactions since it launched in 2019.

The U.S. Secret Service has seized the website of Russian cryptocurrency exchange Garantex, marking a major international crackdown on a platform accused of helping criminals launder billions of dollars in illicit money.

In a joint operation involving law enforcement from the U.S., Germany, Finland, Estonia, and other European countries, Garantex’s domains — Garantex.org, Garantex.io, and Garantex.academy — were taken offline and now display a takedown notice from the Secret Service.

Authorities say the exchange has been a key player in cybercrime, processing more than $96 billion in transactions since it launched in 2019. Investigators claim much of that money came from hackers, drug dealers, and even terrorist groups.

“The seizure of website domains associated with Garantex’s operations and the freezing of over $26 ...