The cryptocurrency trade Garantex is dealing with severe restrictions as Tether has frozen its wallets, blocking entry to greater than 2,5 Bln rubles ($28 million). In response, the trade has introduced a short lived suspension of all providers, together with cryptocurrency withdrawals, whereas its crew works on resolving the problem.
“We’re combating and won’t quit!” the Garantex crew acknowledged, emphasizing that Tether’s actions threaten the complete Russian crypto market and that USDT on Russian wallets is now liable to being blocked.
This transfer marks yet one more blow to Garantex, which has beforehand been focused by sanctions. In April 2022, the trade was blacklisted by the U.S., adopted by the EU including it to its sanctions listing in February 2025 for alleged “ties to Russian banks.” Regardless of these restrictions, Garantex assured its customers on the time that each one providers would stay absolutely operational.
The newest restrictions imposed by Tether forged doubt on the long run operations of Garantex. Nevertheless, the trade’s crew insists that they’re doing the whole lot doable to navigate this disaster.
