Garantex Faces Serious Restrictions Due to Tether’s Actions

The cryptocurrency exchange Garantex is currently dealing with significant restrictions after Tether decided to freeze its wallets. This action has blocked access to over 2.5 billion rubles ($28 million). In light of this situation, Garantex has temporarily suspended all its services, including cryptocurrency withdrawals, while the team works to resolve the issue.

> “We are fighting and will not give up!” the Garantex team stated, emphasizing that Tether’s actions pose a threat to the entire Russian crypto market. They highlighted that USDT on Russian wallets is now at risk of being blocked.

This move is another setback for Garantex, which has previously faced sanctions. In April 2022, the exchange was blacklisted by the U.S., and in February 2025, it was added to the EU sanctions list for alleged ties to Russian banks. Despite these challenges, Garantex had assured users that all services would remain operational at that time.

The latest restrictions from Tether have cast doubt on Garantex’s future operations. Nevertheless, the exchange’s team is determined to navigate this crisis and maintain their services.