Garantex Asset Compensation: Start of Negotiations with Users

Garantex crypto exchange has announced the start of negotiations with users to compensate assets that were frozen at the initiative of Tether. The company stated that it intends to compensate the funds using assets located within the Russian Federation. Compensation terms will be agreed individually with each user, and soon, secure remote solutions will be offered to clients from different regions.

What happened to Garantex’s assets?

On March 7, 2025, the U.S. Department of Justice confirmed the freezing of $26 million in Garantex exchange wallets and the blocking of domains. These measures were taken as part of an investigation in which Tether and Elliptic actively participated. As a result of these actions, a large number of Garantex users found their assets frozen.

Tether, the well-known issuer of the USDT stablecoin, played a significant role in the freezing as its involvement in the investigation led to restricted access to funds on the Garantex platform. However, Garantex has expressed its willingness to compensate the affected clients despite the difficulties.

How will compensation take place?

Representatives of Garantex reported that compensation will be made using assets located in Russia. The process will follow a format similar to the rehabilitation of financial institutions, allowing users the opportunity to recover their funds. Individual compensation terms will be discussed with each client.

For residents of Moscow, the company will organize in-person meetings at the office, where they can discuss the details of fund recovery. For clients in other regions, a remote solution will be offered to ensure secure interaction.

The role of Tether in freezing assets

Tether played an active role in the freezing of Garantex’s funds. The U.S. Department of Justice, thanking Tether and Elliptic for their help in the investigation, confirmed the freezing of significant amounts in the exchange’s wallets. This event became another important moment in the history of crypto exchanges, showing how external forces can influence the operation of platforms and users’ assets.

Compensation prospects for clients

Despite the freezing of assets, Garantex does not intend to abandon its obligations to users. This statement emphasizes that the exchange is ready to work on resolving the situation and will provide compensation to all affected users.

Although the compensation process may take some time, Garantex has already taken the first step towards resolving the issue and compensating its clients. The offering of secure remote solutions for clients from other regions should help speed up this process.

Conclusions

The Garantex asset compensation process is an important step for users who faced the freezing of their funds. The company demonstrates its willingness to fulfill its obligations and work with each client individually. Meanwhile, users from Moscow will be able to meet with exchange representatives in person, while others will be offered a remote solution.