August 14, 2025 - The U.S. government has launched a significant operation against a Russian-operated cryptocurrency exchange, Garantex, which is alleged to have been used by numerous cybercriminals and cybercrime organizations for money laundering and other illicit activities.
The Departments of State and the Treasury are taking joint action against Garantex, with the Department of State's Transnational Organized Crime Rewards Program (TOCRP) offering two rewards totaling up to $6 million for information leading to the arrests and/or convictions of leaders of Garantex. The TOCRP is providing a substantial incentive for individuals to come forward with information about the alleged illicit activities of Garantex, including its use in facilitating various crimes such as hacking, ransomware, terrorism, and drug trafficking.
Specifically, the Department of State's TOCRP is offering up to $5 million for Russian national Aleksandr Mira Serda, a/k/a "Aleksandr Ntifo-Siaw", who is alleged to be a key leader of Garantex. Additionally, the program is providing up to $1 million for other key leaders of Garantex.
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is also taking action against Garantex and its network. OFAC is re-designating Garantex and designating Grinex, a cryptocurrency exchange set up as Garantex's successor. Furthermore, OFAC has designated three of Garantex's executives and six partner companies in Russia and the Kyrgyz Republic.
According to the U.S. Secret Service and FBI, Garantex received hundreds of millions in criminal proceeds and was used to facilitate various crimes that resulted in substantial harm to U.S. victims. Between April 2019 and March 2025, Garantex processed at least $96 billion in cryptocurrency transactions.
The Department of the Treasury's sanctions actions were taken pursuant to Executive Order (E.O.) 13694, as amended. The TOCRP is authorized by the Secretary under this program, which supports law enforcement efforts to disrupt transnational crime globally.
If you have information about Garantex or its alleged illicit activities, please contact the U.S. Secret Service by email at MostWanted@usss.dhs.gov or via Signal at +1-202-538-5476. All identities will be kept strictly confidential, and government officials and employees are not eligible for rewards.
For more information, see Treasury's press release, which provides additional details about the Department of the Treasury's actions against Garantex.