Garantex
Garantex was a Moscow-based cryptocurrency exchange founded in 2019, offering ruble-crypto trading and OTC services to Russian and CIS users. It was sanctioned by the U.S., EU, and UK for sanctions evasion, had its domain seized in March 2025, and rebranded as Grinex.
- Company typePrivate
- Founded2019
- HeadquartersMoscow, Russia
- Headcount1–10
- GTM typeB2C
- OfferingSoftware
What Garantex does
Garantex was a Moscow-based cryptocurrency exchange founded in 2019, operating from the Federation Tower in the Russian capital. The platform offered cryptocurrency exchange services primarily to Russian and CIS-based users, with a particular focus on ruble-denominated trading pairs and ruble-crypto on/off-ramp services. Garantex was integrated into the broader A7 cryptocurrency network and was associated with the A7A5 ruble-pegged stablecoin, positioning it within a sanctions-evasion financial infrastructure. The exchange was blacklisted by the U.S., EU, and UK for facilitating Russian sanctions evasion, and in March 2025 the U.S. Secret Service seized the garantex.io domain pursuant to a warrant from the U.S. Attorney's Office for the Eastern District of Virginia, with coordination from the DOJ, FBI, Europol, and law enforcement agencies from the Netherlands, Germany, Finland, and Estonia.
Following the domain seizure, Garantex operations rebranded as Grinex, with on-chain and off-chain evidence (transferred A7A5 stablecoin holdings, rapid volume growth exceeding $40 million within two weeks, and social media links between the two platforms) indicating direct successor continuity. Some operations reportedly migrated to new Russian legal entities to circumvent targeted platform sanctions, and elements relocated to Kyrgyzstan. The lack of publicly disclosed ownership, founder information, pricing, or customer data underscores the platform's opacity. The EU Council's 20th sanctions package introduced a sectoral ban on all cryptocurrency services registered in Russia, effective May 24, 2026, escalating from targeted platform sanctions to a blanket prohibition. No revenue figures, headcount, technology stack details, or product portfolio information are publicly disclosed.
Garantex firmographics
Firmographics- Name
- Garantex
- Legal name
- Garantex
- Website
- https://garantex.io
- Company type
- Private
- Founded year
- 2019
- Operating status
- Closed
- Headcount range
- 1–10 employees
- Short description
- Garantex was a Moscow-based cryptocurrency exchange founded in 2019, offering ruble-crypto trading and OTC services to Russian and CIS users. It was sanctioned by the U.S., EU, and UK for sanctions evasion, had its domain seized in March 2025, and rebranded as Grinex.
- Ownership category
- akta.pro rank
Garantex industry classification
Industry- Product category
- Cryptocurrency Exchange
- NAICS
- Securities and Commodity Exchanges (5232)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA)
- akta.pro secondary industries
- Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG), Fiat On/Off-Ramps & Payment Rails (Exchange-Operated) (FSADAAAF)
Keywords
Where Garantex is headquartered
LocationHeadquarters
- HQ city
- Moscow
- HQ country
- Russia
- HQ region
- Europe
Markets served
Garantex business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Others
Garantex product offering
Product offeringCore offering
Garantex operated a Moscow-based cryptocurrency exchange that facilitated the trading of digital assets including Bitcoin, Ethereum, Tether (USDT), and the ruble-linked stablecoin A7A5, with on-ramp and off-ramp services between Russian fiat currency and cryptocurrencies. The exchange was linked to Russia's A7 sanctions-evasion network, and following a March 2025 U.S. Secret Service domain seizure it rebranded as Grinex, a direct successor entity that continued operations from Kyrgyzstan.
Product overview
Garantex was a Moscow-based cryptocurrency exchange that has been seized by U.S. law enforcement authorities. The platform has been shut down and is no longer operational. No product or service information is available from the seized domain.
Differentiator
Problem solved
Functional benefit
Products and services
- Garantex Cryptocurrency Exchange Web-based cryptocurrency exchange platform facilitating the trading of digital assets (including Bitcoin, Ethereum, Tether/USDT, and the ruble-linked stablecoin A7A5) and ruble-to-crypto on-ramp and off-ramp services for Russian and CIS-region users. The domain was seized by U.S. law enforcement in March 2025 and the platform rebranded as Grinex.
Companies that use Garantex
Customer profileIdeal customer profiles1 record
Garantex technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Garantex partnerships and signals
Strategic signalRecent moves7 records
Expansion highlights4 records
Garantex competitors and assessment
Company assessmentBroad incumbents
- HTX (formerly Huobi): HTX is a major global crypto exchange recently designated under UK Russia-related sanctions with TRM Labs explicitly linking the case to over $1.5B in alleged flows involving Garantex and Grinex, making it a comparable venue operating at the intersection of large-scale global crypto trading and Russian sanctions exposure.
Direct peers
- Chatex: Chatex was a Russian-linked cryptocurrency exchange sanctioned by the U.S. Treasury in 2021 alongside Suex for facilitating illicit transactions, comparable to Garantex as a sanctioned Russian-language crypto venue.
- BTC-e: BTC-e was a long-running Russian-linked cryptocurrency exchange shut down by U.S. law enforcement in 2017 for facilitating cybercrime and money laundering, the closest historical precedent to Garantex in terms of operating model, Russian affiliation, and enforcement outcome.
- Suex: Suex was a Russian-registered OTC cryptocurrency exchange sanctioned by the U.S. Treasury in 2021 for facilitating illicit finance, making it a directly comparable sanctioned Russian crypto venue with a similar sanctions-exposed operating profile to Garantex.
- Wex (formerly BTC-e successor): Wex emerged as a successor exchange to BTC-e after the 2017 takedown, paralleling the Garantex-to-Grinex rebrand pattern and serving a similar Russian-speaking user base with comparable sanctions exposure.
- Grinex: Grinex is the direct successor entity to Garantex following the March 2025 U.S. domain seizure, with on-chain evidence (transferred A7A5 stablecoin holdings), social media continuity, and rapid post-rebrand volume pointing to a continuation of the same business under a new name.
Emerging players
- LocalBitcoins: LocalBitcoins was a peer-to-peer Bitcoin exchange founded in Finland whose Russian user base and cash-trading activity led to enforcement action by U.S. and Finnish authorities, making it a relevant precedent for non-custodial/Russian-user-focused crypto platforms that attract regulatory scrutiny.
Market position
Strengths3 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights3 records
Customer concentration
Garantex social profiles
Digital presenceGarantex financial estimates
Financial estimateRevenue estimate
Valuation estimate
Garantex leadership team
Management profileNumber of profiles
Profiles1 record
Garantex funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Garantex M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Garantex
What does Garantex do?
Garantex operated a Moscow-based cryptocurrency exchange that facilitated the trading of digital assets including Bitcoin, Ethereum, Tether (USDT), and the ruble-linked stablecoin A7A5, with on-ramp and off-ramp services between Russian fiat currency and cryptocurrencies. The exchange was linked to Russia's A7 sanctions-evasion network, and following a March 2025 U.S. Secret Service domain seizure it rebranded as Grinex, a direct successor entity that continued operations from Kyrgyzstan.
Is Garantex a public or private company?
Garantex is a private company. It is classified as unknown and is currently closed.
When was Garantex founded?
Garantex was founded in 2019. It employs 1 to 10 people.
Where is Garantex based?
Garantex is headquartered in Moscow, Russia, in the Europe region.
Who are Garantex's main competitors?
HTX (formerly Huobi) is listed as a broad incumbent. Direct peers are Chatex, BTC-e, Suex, Wex (formerly BTC-e successor) and Grinex. LocalBitcoins is listed as an emerging player.
Does Garantex have an API?
No public API is recorded for Garantex.
What industry is Garantex in?
Garantex's product category is Cryptocurrency Exchange. Its primary akta.pro industry code is FSADAAAA, Spot Crypto Exchanges (Order-Book & Matching Engine), with a secondary code of FSADAAAG, Crypto Custody & Exchange Wallet Services (Integrated). Its NAICS code is 5232 and its SIC code is 6200.