US updates sanctions on Russian cryptocurrency exchange Garantex

U.S. officials renewed sanctions and revealed indictments against operators of Russian crypto exchange Garantex and its successor Grinex after tracing over $100M in illicit transactions tied to ransomware groups (including Conti, Black Basta, Ryuk, LockBit, NetWalker and Phoenix Cryptolocker). Law enforcement seized servers and websites, and authorities say Garantex evaded prior sanctions by rapidly moving funds between wallets and using a ruble-backed token (A7A5) issued via Old Vector; several executives, affiliated companies, and the successor platform were designated and sanctioned.