Active crypto wallets of the Russian exchange Garantex have been identified by Global Ledger specialists

The report says that by March 6, about 3,265 ethers had accumulated on one of the exchange's wallets. This wallet became active by the end of March — 844.99 ethers were withdrawn from it between March 22 and June 4. These funds subsequently passed through the Tornado Cash mixer, indicating attempts to hide traces of transactions. Global Ledger representatives note that even if this amount is only part of the reserves, its active use demonstrates the ineffectiveness of standard blocking measures in the context of cross-chain technologies.

In addition, the Russian platform controls about 30 bitcoins, most of which were accumulated on March 6. On May 8, 2.2 BTC were transferred to the TRON network and ended up in the accounts of another crypto platform, Grinex. Experts also point out that Garantex manages crypto assets worth about $4 million in the BNB Chain network.

It was previously reported that after the seizure of servers and assets by the American authorities, Garantex operators launched a new exchange, Grinex. This platform has already conducted transactions worth tens of millions of dollars and continues to operate from Russia.

Global Ledger’s findings highlight that sanctions aimed at freezing accounts are not effective enough in today’s environment, where funds can be quickly moved between different blockchain networks and where tools can be used to anonymize transactions. The Russian crypto exchange is showing flexibility and continuing its operations, using the capabilities of decentralized technologies and new platforms.