Security News > 2022 > April > U.S. sanctions crypto-exchange Garantex for aiding Hydra Market

The U.S. Department of the Treasury's Office has announced sanctions against the cryptocurrency exchange Garantex, which has been linked to illegal transactions for Hydra Market.

The United States is sanctioning the world's largest darknet market for Russian speakers, Hydra, and the virtual currency exchange Garantex.

DoJ's announcement also named Dmitry Olegovich Pavlov, 30, a resident of Russia, for administrating the seized Hydra Market servers and for conspiracy to commit money laundering and narcotics distribution.

Garantex is accused of facilitating the money laundering operations for the Hydra marketplace, which directly violates existing anti-money laundering and terrorism anti-financing regulations.

"Analysis of known Garantex transactions shows that over $100 million in transactions are associated with illicit actors and darknet markets, including nearly $6 million from Russian RaaS gang Conti and also including approximately $2.6 million from Hydra," mentions the U.S. Treasury announcement.

The U.S. Treasury also published a list of 100 cryptocurrency wallet addresses directly linked to Hydra Market's operations, which are to be blocked from all legal blockchain stakeholders.

News URL

https://www.bleepingcomputer.com/news/security/us-sanctions-crypto-exchange-garantex-for-aiding-hydra-market/