The US sanctions the pirate market Hydra, the largest on the DarkNet, and the Russian exchange Garantex for laundering more than $100M – DiarioBitcoin

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The US sanctions the pirate market Hydra, the largest on the DarkNet, and the Russian exchange Garantex for laundering more than $100M - DiarioBitcoin By Angel Di Matteo @shadowargel

The measures are part of the US efforts to prevent the use of digital assets in criminal activities and the commercialization of illicit items, especially if these organizations operate from Russian territory.


The US Treasury Department imposed sanctions on the market service of the dark net hydra, as well as a crypto exchange platform linked to the latter called Garantex, which would allegedly be linked to the upper echelons of the Russian government.

measures against Hydra by the US Treasury Department

According to information published by the Treasury Departmentthis is the result of a series of coordinated international efforts, precisely to close the path to cybercrime operations, drug trade and other illegal items through the platform of the dark net based in Russia. In this case, the support of the authorities in Germany was very helpful, which closed the Hydra servers in the country and confiscated some USD $25 million in funds. BTC.

In this regard, Treasury Secretary Janet Yellen commented:

“The global threat of cybercrime and ransomware originating from Russia, and the ability of criminal leaders to operate there with impunity, deeply concerns the United States. Our actions today send the message to criminals that they cannot hide in the Dark Net or their, and they cannot hide in Russia or anywhere else in the world. In coordination with allies and partners, such as Germany and Estonia, we will continue to disrupt these networks.”

According to what is read in the statement published by the regulatory body, the actions taken against the Hydra platform would be framed in Executive Order 14067 signed on March 9 of this year, in which it is sought “ensure the responsible development of digital assets”, preventing these from being used for criminal activities. Therefore, the Office for Foreign Assets Control (OFAC)) will be tracking the 100+ crypto addresses that were operating on the website.

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actions against Garantex

In relation to the platform Garantex, This would be the third cryptocurrency exchange sanctioned by the US regulator, which, despite being registered in Estonia, carried out its operations from the cities of Saint Petersburg and Moscow.

The sanctions against Garantex They are associated with the participation of the exchange in the laundering of more than USD $100 million dollars, which would be allegedly associated with illicit acts and commercial activities in markets of the DarkNet.

In this regard, the statement reads:

“Analysis of the transactions carried out through Garantex shows that more than USD $100 million in transactions would be associated with illicit acts… including almost USD $6 million linked to the Russian group RaaS Conti, and another USD $2.6 million with the Hydra platform. ”.

In the framework of international sanctions

For critics and analysts, the measure comes at a particularly important moment, since due to the military actions promoted by Russia in Ukrainian territory, there has been a greater emphasis on closing roads for the financing of certain activities to residents. of the Soviet nation.

In addition to the above, this fact is also especially noteworthy in the midst of the efforts made by the US government to prevent the development of illicit activities through the use of cryptocurrencies, especially in light of the fact that these can serve as a mechanism for authorities in Russia evade financial sanctions imposed by other countries and international organizations with such assets.

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Recommended reading

Source: TheBlockCrypto, Treasury Department

Angel Di Matteo version / DailyBitcoin

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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