Tether Problem Resolution Proposed by Garantex
Grounds for a Showdown: Garantex vs Tether
It's time to face the music, folks! The Garantex exchange team has thrown down the gauntlet, inviting users to their Moscow office to tackle the ticklish issue of ** asset blockage by Tether**.
"We've cooked up a plan to unfreeze those assets and extend an olive branch to users boasting a positive account balance for a cozy meet," the official statement declares.
So, what's the drill? Users are expected to skip a beat and drop a request through a Telegram bot, including their name, email, and phone number tied to their account.
There's currently radio silence from the Garantex camp about restarting operations.
You might remember, on the March 7 dance floor, the U.S. Department of Justice gave it up and confirmed the blocking of Garantex domains and the clamming up of $26 million in their wallets. The department hollered out a big 'thank you' to Tether and Elliptic for their dynamic duo act in the investigation.
Wanna know more about the backstory? Here's the lowdown:
- In March 2025, Tether, the reigning king of stablecoins, teamed up with the U.S. Secret Service to freeze approximately $23 million linked to the sanctioned Russian cryptocurrency exchange Garantex. This move was just another stone in the mosaic of efforts to recover illicit funds in cryptocurrency-related investigations, showcasing Tether's knack to freeze USDT tokens connected to shady deals due to its central control over the stablecoin's supply[5].
- The U.S. Department of Justice's hijinks suggest that this freeze was all part of formal enforcement and compliance measures related to sanctions and anti-money laundering quagmires.
- Alas, there's no groovy gossip about any subsequent unfreeze or asset release plans from Garantex after this incident, nor any public chit-chat or negotiations regarding the unfreeze following the U.S. government's actions.
In a nutshell, while Tether froze assets tied to Garantex at the behest of U.S. law enforcement, there's been no juicy details spilled about Garantex's plans to thaw those assets from the enrichment sources available[5]. Stay tuned for more updates!
- The Garantex team has proposed a meeting to discuss their plan to unfreeze assets that were blocked by Tether, inviting users with a positive account balance to address this issue in their Moscow office.
- In the business world of finance and industry, the ongoing standoff between Garantex and Tether revolves around the latter's asset blockage, a situation that has left users eagerly waiting for potential news regarding the unfreezing of their funds.
