Name
Operators of shuttered Russian crypto exchange Garantex appear to move customer funds to a new trading platform
Publish date
12:00am, Wednesday, March 19, 2025
Referenced by
Garantex operators reportedly moving funds to Grinex
Crypto news
News story
According to Global Ledger, Garantex is moving its liquidity and customer deposits to Grinex. The new exchange appears to use the same infrastructure and is being promoted as a workaround to the sanctions. The new exchange has also incorporated a ruble-backed stablecoin A7A5, launched by Promsvyazbank’s cross-border payment platform A7. Onchain data shows the exchange has already processed nearly $30 million worth of transactions. Between Feb. 8 and March 1, Garantex transferred several billion A7A5 stablecoin tokens on Tron to the new addresses associated with Grinex, according to onchain data.
Crypto news
Quote
The operators of the sanctioned crypto exchange Garantex have reportedly spun up a new trading platform, according to analytics firm Global Ledger. The new exchange, Grinex, is also allegedly operated out of Russia.
Crypto news
Quote