High-Risk Platforms Are Copying Sanctioned Russian Exchange Garantex
Garantex, a sanctioned Russian crypto alternate, might encourage different companies to emulate its strategies. A brand new report particulars a connection between ABCex and AEXbit, which can be a rebrand to evade authorized penalties.
TRM Labs shared this report with BeInCrypto alongside some unique commentary from Ari Redbord, its Global Head of Policy and Government Affairs. The agency suspects that AEXbit and Garantex are straight linked, however there isn’t a agency proof.
Is Garantex Inspiring Exchanges?
TRM Labs has been hard at work analyzing crime trends in 2025’s crypto scam supercycle, and its latest report is very regarding. Specifically, it alleges that Garantex, a high-risk crypto alternate, has taught some worthwhile classes in sanctions evasion to different illicit crypto platforms:
“Garantex’s takedown was a landmark enforcement motion, however it additionally reveals us one thing necessary — illicit actors don’t simply disappear, they adapt. What we’re seeing now could be the playbook being reused: rebrands, cloned interfaces, and jurisdictional arbitrage,” Redbord instructed BeInCrypto.
What does this imply, precisely? Although Garantex largely went underground after US sanctions and a few arrests, the alternate restarted under a fresh name. Grinex, the brand new agency, shared many on-chain transactions, code, and different belongings with Garantex.
This led specialists to imagine this firm was a brand new cash laundering entrance. Transactions in A7A5, a ruble-backed stablecoin from Kyrgyzstan, helped cement these connections. TRM Labs isn’t assured that new legal exchanges are straight concerned with Garantex, however they’re utilizing related strategies.
Tactics Spread Between Illicit Actors
Specifically, the agency tracked ABCex, a shuttered alternate, and AEXbit, a possible rebrand, which carefully resembled connections between Garantex and Grinex.
Shortly after ABCex briefly shuttered throughout a DDoS assault, this alternative service opened with an an identical consumer interface.
TRM Labs suspects AEXbit relaunched to evade authorized penalties, identical to Garantex created a successor alternate.
ABCex was allegedly linked to illicit playing and terror funding, and TRM Labs came upon that it has been co-spending with the “clear” AEXbit. This new agency additionally has some tangential connections to Garantex, however these are much less sure.
In quick, it doesn’t truly matter if this new alternate is straight affiliated with Garantex or not. What issues is that these techniques are spreading amongst illicit actors.
Cybersecurity experts are already worried that criminals are studying from one another extra successfully than crimefighters are.
In his closing feedback, Redbord appeared to usually share these fears.
“For regulation enforcement and compliance groups, this underscores the necessity to monitor conduct and infrastructure, not simply names,” Redbord concluded.
If the neighborhood goes to stop cash laundering and combat legal actors, it might want to be taught from these techniques, too.
The publish High-Risk Platforms Are Copying Sanctioned Russian Exchange Garantex appeared first on BeInCrypto.
