Garantex, a Russian cryptocurrency exchange, has reportedly processed a portion of $93 million for Islamic Jihad, an extremist organization in the Gaza Strip, and Hamas terrorists.
According to a report from the WSJ, the crypto exchange has allegedly helped finance the Gaza group with this transaction, which ultimately funds the war between Israel and Gaza.
Garantex was also sanctioned by the US Treasury Department in April 2022 in order to prevent financing efforts during the invasion of Ukraine. The exchange platform is also accused of transferring ransomware funds from Conti Group as well as Hydra, a darknet market.
The crypto exchange is registered in Estonia but operates from Moscow. It offers purchasing cryptocurrency using the ruble. It was also at the core of Russia’s largest pyramid scheme fraud.
Also Read: Australian Government Plans to Regulate Crypto Exchange
