The United States Department of Justice (DOJ) has announced a substantial reward totalling up to $6 million for credible information leading to the arrest or conviction of leaders from the now-defunct Garantex crypto exchange. This move targets those responsible for facilitating billions in illicit transactions and supporting cybercriminal activity through the platform.
Major Reward Announced for Garantex Crypto Exchange Leaders
The US Department of State revealed incentives through the Transnational Organized Crime Rewards Program (TOCRP). The DOJ is offering up to $5 million for information regarding Aleksandr Mira Serda, Garantex’s co-owner and Chief Compliance Officer, and up to $1 million for data leading to the arrest of other key figures. The crackdown comes as part of a wider initiative to dismantle illicit crypto operations that have long undermined financial security.
According to the US Department of State, the Garantex crypto exchange, now rebranded as Grinex, continued operations despite mounting evidence of criminal activity. The Office of Foreign Assets Control (OFAC) is intensifying scrutiny by redesignating Garantex and targeting its successor, Grinex, which remains active.
This international enforcement campaign received support from German and Finnish authorities, who seized the exchange’s domains and froze over $26 million in digital assets linked to Garantex crypto exchange accounts. OFAC is also set to designate three Garantex executives and six affiliated companies operating in Russia and the Kyrgyz Republic.
Garantex Crypto Exchange: A Hub for Illicit Transactions
Launched in late 2019 and registered in Estonia, Garantex crypto exchange primarily operated from Moscow and St. Petersburg. Its license was revoked in February 2022 by Estonia’s Financial Intelligence Unit due to significant anti-money laundering shortcomings. Investigations revealed the platform processed at least $96 billion in digital currency transactions between April 2019 and March 2025, with hundreds of millions linked to criminal proceeds, including terrorism, drug trafficking, and ransom payments.
Despite sanctions, Garantex attempted to elude authorities by building an infrastructure to obscure wallet ownership, enabling continued criminal activity. Notably, money launderer Ekaterina Zhdanova allegedly converted over $2 million from Bitcoin to USDT on the platform, leading to further legal actions against her.
The Department of Justice recently unsealed indictments against top Garantex crypto exchange personnel, including Aleksandr Mira Serda and Aleksej Besciokov. Besciokov was apprehended in India, while Serda remains at large.
Impact of US DOJ Crackdown on Garantex Crypto Exchange
The DOJ’s aggressive pursuit of Garantex crypto exchange leaders underscores a broader effort to curb illicit activity within the cryptocurrency industry. As authorities continue their investigations, they urge anyone with information to come forward and help dismantle criminal networks exploiting the digital asset ecosystem.
For more on global law enforcement action against illicit cryptocurrency operations, refer to the official US Department of Justice announcements.
