According to a recent announcement, US authorities have declared rewards up to $6 million for information on the leadership of the Russian cryptocurrency exchange Garantex, which was shut down in a law enforcement operation.
US Targets Garantex
The United States is increasing pressure on the key figures behind the Garantex cryptocurrency exchange. The Departments of State and Treasury have announced rewards totaling up to $6 million for information leading to the arrests and convictions of Garantex’s leadership. This action follows the imposition of sanctions on co-founder Sergey Mendeleev.
Founders and Operations of Garantex
Garantex was founded in 2019 by Aleksandr Mira Serda, Sergey Mendeleev, and Stanislav Drugalev. The platform was active until March 2025 when it was shut down following joint actions by the Secret Service and FBI, which seized $26 million in wallets linked to the exchange. Reports indicate that Garantex processed at least $96 billion in cryptocurrency transactions from April 2019 to March 2025.
Sergey Mendeleev's Reaction
Sergey Mendeleev described the sanctions as 'absolutely logical' from the perspective of American authorities. In an interview with the Russian outlet Bits.media, he asserted that he had no connection to Garantex for the past five years, calling it 'no more than a line in my biography.' He also dismissed allegations, stating, 'I understand when the Wall Street Journal prints some fiction about my participation in financing Hamas...'
The tightening of regulations and sanctions against Garantex underscores the US efforts to combat international cybercrime and money laundering amid the growing role of cryptocurrencies in such crimes.
