Russian cryptocurrency exchange Garantex has temporarily suspended all its services after Tether froze $28 million worth of USDT held on the exchange. The announcement came via a Telegram post from Garantex on March 6,

Stablecoin operator Tether has revealed that it has frozen $27 million in USDT on the sanctioned Russian crypto exchange, Garantex. The cryptocurrency exchange has also suspended all its trading and withdrawal services.

"Tether has entered the war against the Russian crypto market and blocked our wallets worth over 2.5 billion rubles," Garantex said.

The exchange, which has been linked to Russian banks under EU sanction and criminal groups, has been a target of investigators for years.

The U.S. Secret Service has seized the domain of the sanctioned Russian cryptocurrency exchange Garantex in collaboration with the Department of Justice's Criminal Division, the FBI, and Europol.

Russian cryptocurrency exchange Garantex on Thursday said stablecoin Tether had blocked digital wallets on its platform holding more than 2.5 billion roubles ($28 million), forcing it to suspend operations days after coming under EU sanctions.

The U.S. Secret Service has seized the web infrastructure tied to Russian cryptocurrency exchange Garantex as part of an ongoing international law enforcement operation, according to a seizure notice seen by Axios and an agency spokesperson.

An international coalition of law enforcement agencies seized the official website of Garantex, which has previously been sanctioned by the U.S. and E.U. governments.