Garantex: what it is and why it's been sanctioned since 2022
The history of Garantex — a crypto exchange sanctioned by OFAC since April 2022. What it means for holders, why addresses are flagged, and how to avoid blocks from Garantex-linked addresses.
Garantex is a crypto exchange based in the UAE but linked to Russian business. It was added to the OFAC SDN sanctions list in April 2022. One of the highest-profile crypto sanctions cases — and a potential trap for unwary P2P traders.
Sanctions timeline
- April 2022: OFAC added Garantex to the SDN list for ties to Tornado Cash and money laundering for a North Korea-linked group. All crypto addresses tied to the exchange were flagged.
- 2023-2024: The EU and UK added Garantex to their sanctions lists.
- 2025-2026: Rus Defence and linked addresses continue to be tracked by Chainalysis and TRM Labs.
What it means for an ordinary user
If your wallet received funds from a Garantex address
- Your wallet is automatically flagged "dirty" in AML systems.
- When withdrawing to an exchange (Binance, Coinbase) — deposit blocked and source-of-funds request.
- When converting to fiat via P2P — card block under AML rules.
If you hold funds on Garantex
- Withdrawal to any mainstream exchange is impossible — addresses are tracked.
- Any P2P partner checking your address via AML will see risk 90+.
- Financial losses when trying to exit Garantex through "grey" schemes.
Transferring from a Garantex address to your wallet is a one-way ticket to sanctioned status. Even if you move funds further, the "taint" chain persists in AML systems forever.
How to check an address before a trade
VerifAML includes OFAC SDN with Garantex addresses. The check is instant:
- Enter the counterparty's address
- Select the network (ETH/BTC/USDT)
- Level: Fast
- If result = 90 Critical mentioning Garantex — cancel the trade
Related materials
VerifAML is an informational service. An address's presence on the OFAC list is an objective fact at the time of check.