Global Ledger | Crypto

The situation involving Garantex “undermines the illusion of control that many still cling to,” according to Global Ledger co-founder and CEO Lex Fisun. Global Ledger, a company that provides a crypto Anti-Money Laundering (AML) toolset, has identified over $15 million in active reserves from crypto exchange Garantex, some of which are on the move. According to Global Ledger’s report, a dormant Garantex Ethereum wallet began accumulating Ether (ETH) on March 6, eventually funneling $2.3 million in ETH to Tornado Cash. That wallet still holds $6.1 million in ETH, which remains stagnant. The same pattern was found for Bitcoin (BTC) holdings, the report says. About 2.2 BTC has been bridged to the TRON network, then partially transferred to Grinex. Read more

Exposure to wallets tied to suspected Garantex successor Grinex keeps rising as blockchain analyst warnings are ignored. Grinex, a cryptocurrency exchange identified as the suspected successor to the sanctioned Russian platform Garantex, has reportedly moved more than $1.66 billion in crypto through exchanges, despite red flags raised by blockchain analytics firm Global Ledger. Garantex had its infrastructure taken down by US, German and Finnish authorities in March and has since reportedly shifted its operations to Grinex. Global Ledger initially told Cointelegraph that various cryptocurrency exchanges had around $1 billion in fund exposure to Grinex, as of early May. Read more