US authorities have announced a significant reward for information regarding the management of the Russian cryptocurrency exchange Garantex, associated with cybercrime.
Substantial Reward
The Office of the Spokesperson for the US Department of State has announced targeted actions against Garantex. The Transnational Organized Crime Rewards Program (TOCRP) has prepared two rewards totaling up to $6 million for information leading to the arrest or conviction of the exchange's executives. Of this amount, up to $5 million is for Russian national Aleksandr Mira Serda, co-owner and CCO, and up to $1 million is for other key leaders of the exchange.
Known Facts about Garantex
Garantex was founded at the end of 2019 and registered in Estonia, with most operations conducted from Moscow and St. Petersburg. In February 2022, it lost its license for providing digital asset services after serious deficiencies in anti-money laundering laws were discovered. Following this, Garantex created an infrastructure to evade sanctions and continue servicing entities involved in criminal activities.
Actions by US Authorities
US authorities report that between April 2019 and March 2025, Garantex handled at least $96 billion in cryptocurrency transactions linked to crimes ranging from terrorism to drug trafficking. As a result, the DOJ has filed charges against the CCO and other executives of the exchange. One executive has been arrested in India, while the other remains at large.
The significant attention and actions from US authorities highlight the importance of regulating the cryptocurrency space and identifying those responsible for financial crimes.
