Japan’s Ministry of Foreign Affairs Hits Garantex With Asset Freeze
Key Summary
Japan's Ministry of Foreign Affairs has frozen Garantex, a Russian cryptocurrency exchange, due to its alleged handling of over $60 billion in transactions following US sanctions. The move is part of a broader sanctions package against Russia. Garantex had processed over $60 billion in transactions after the US sanctions landed in 2022. The US Treasury says Garantex staff had already shifted customer deposits to successor exchange Grinex.
Japan added Russian crypto exchange Garantex to its asset-freeze list this week, joining the U.S. and European Union in targeting a platform Treasury says handled more than $100 million tied to ransomware and other illicit activity. There’s one catch. U.S. authorities seized Garantex’s domain in March 2025, and Treasury says its staff had already shifted […]