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“Tether has entered the war against the Russian crypto market and blocked our wallets worth over 2.5 billion rubles,” Garantex said.
By Jamie Crawley|Edited by Parikshit Mishra
Mar 6, 2025, 12:12 p.m. UTC
What to know:
- Tether has frozen $28 million worth of USDT on Russian crypto exchange Garantex.
- Garantex, which has been sanctioned by the European Union for links to the Russian government and criminal organizations, has suspended all its services temporarily.
Stablecoin issuer Tether has frozen $28 million worth of USDT on Russian crypto exchange Garantex.
Garantex, which has been sanctioned by the European Union for links to the Russian government and criminal organizations, has suspended all its services temporarily, the exchange announced on Telegram on Thursday.
STORY CONTINUES BELOW
“Tether has entered the war against the Russian crypto market and blocked our wallets worth over 2.5 billion rubles,” Garantex said.
“Please note that all USDT held in Russian wallets is now under threat. As always, we are the first, but not the last,” it added.
Jamie has been part of CoinDesk’s news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
