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

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,

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 seized the website of the Russian exchange Garantex in collaboration with the FBI, Europol, and the Department of Justice’s Criminal Division. The exchange has frequently been associated with ransomware hackers and darknet markets.

Sanctioned Russian crypto exchange Garantex is announcing the suspension of its operations after Tether blocked its platform's wallets.

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.

Tether, the issuer of the USDT stablecoin, has frozen approximately $27 million linked to the Russian cryptocurrency exchange Garantex. This decisive move has led Garantex to suspend its trading and withdrawal services,

Tether freezes $27 million in USDT on Russian exchange Garantex, forcing the platform to halt operations amid ongoing sanctions

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.