Tether Freezes $28 Million USDT on Russian Exchange Garantex
Russian cryptocurrency exchange Garantex accused the tether to attack the Russian crypto market under U.S. sanctions.
According to the exchange’s telegram, Tether has frozen several USDT wallets on the exchange, worth more than $28 million.
Russian USDT holders are in danger
Garantex says USDT Stablecoins There are risks in user wallets. Some USDT funds held by users It has been frozen in the exchange. To manage this situation, Garantex temporarily stopped all operations.
Co-founder Sergey Mendeleev statement This action undermines Russia’s international trade in digital assets.
“As we solve the problem of the entire team, we temporarily suspend all services, including the results of the cryptocurrency survey. We fight, don’t give up!” Garantex wrote in the telegram.
Furthermore, he warned that freezing for businesses and financial institutions that rely on cryptocurrencies to solve international payments has created difficulties.
As early as December, the Russian Finance Minister confirmed The country is increasingly using Bitcoin and other cryptocurrencies sanctioned.
“We were deceived again when we talked about easing tensions and easing sanctions. Suddenly, the paradigm shifted: Early on, sanctions were just covered up, but now they were blocked without trial or investigation. That’s exactly the reality that I’ve warned of for at least two years, but neither the central bank nor the professional community listened.”
Mendeleev stressed that this disruption would affect Russia’s economic exchanges on a wider scale. Western sanctions have forced digital currencies to play a crucial role in international settlements. The current events further complicate these processes.
The exchange’s claim has attracted attention Installation supervision pressure and conflicts between U.S. authorities and market participants operating in Russian jurisdictions.
Garantex sanctions explain
Duma Deputy Representative Anton Gorelkin’s view on the incident has increased his views. He noted that Shinter’s decision reflects a trend of broader pressure on crypto infrastructure under continuous sanctions by Western regulators.
Gorelkin stressed that centralized Stablecoins like USDT are still particularly controlled by external control. Despite the lockdown, he expressed confidence that it was impossible to completely shut down the Russian cryptocurrency market.
Garantex first encounters supervision Challenge in April 2022. U.S. authorities impose sanctions after intensified Conflict between Russia and Ukraine.
Officials accused the exchange of failure to comply with anti-money laundering and anti-terrorism financing rules. U.S. agencies claim Garantex plays a role in $100 million in money laundering linked to hacker groups and dark web transactions.
Last March, law enforcement agencies from the United States and the United Kingdom began investigating Garantex. They reviewed crypto transactions totaling more than $20 billion using USDT.
The detector reflects ongoing tensions between regulators and crypto operators in an approved environment.
Disclaimer
persist in Trust Project Guide Beincrypto is committed to impartial, transparent reporting. This news article is designed to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on this content. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
