The Stati Uniti (USA) have sanctioned eight crypto wallets connected to the Russian exchange Garantex and the Houthi group of Yemen, after identifying over a billion dollars in suspicious transactions linked to the financing of military operations.
Let’s see all the details in this article.
USA in the crosshairs of suspicious crypto: wallets linked to the Houthi and the Russian exchange Garantex sanctioned
The United States Department of the Treasury has recently issued sanctions against eight crypto addresses linked to two controversial actors on the international scene: the Houthi group of Yemen and the Russian cryptocurrency exchange Garantex.
The investigation, carried out with the support of the blockchain analysis companies Chainalysis and TRM Labs, highlighted a complex network of transactions that would amount to almost a billion dollars.
The Office of Foreign Assets Control (OFAC), the agency responsible for overseeing financial sanctions in the United States, has determined that these wallets have played a central role in the transfer of funds to sanctioned organizations.
Of these addresses, two are linked to recognized crypto platforms, while the remaining six are privately controlled.
According to reports from American authorities, the monitored digital money flows have largely been used to support the military and logistical activities of the Houthi in Yemen and the Red Sea, where the group has conducted numerous attacks against civilian and military ships.
Slava Demchuk, expert in anti-money laundering and United Nations consultant, commented on the situation by highlighting how the use of cryptocurrencies in geopolitical conflicts is now a tangible reality:
“The presence of wallets connected to the Houthi highlights a significant change: cryptocurrencies are no longer alternative tools for the economy, but true instruments of financial war.”
Demchuk also highlighted that the consequences of these developments will be profound:
“Compliance systems will need to adapt quickly, decentralized platforms will undergo stricter scrutiny, and authorities will intensify efforts to attribute and block suspicious funds.”
Who are the Houthi and why are they in the sights of the USA
The Houthi movement, also known as Ansar Allah, is a Yemeni political and armed group that originated from a Zaidi Shia current.
Initially formed with goals of religious and social reform, it has grown to become one of the main forces in the internal Yemeni conflict.
In recent years, the Houthi have stood out for drone and missile attacks in the Red Sea. Consequently threatening maritime commerce and stability in the region.
The American government, which has already included the group in the list of foreign terrorist organizations, considers their activities a danger to civilians, American personnel in the Middle East, and regional partners.
In the month of January, the United States initiated a campaign of targeted bombings against Houthi positions. This followed numerous naval attacks claimed by the group.
In parallel, the Russian exchange Garantex has been targeted by the authorities since March, after it was accused of facilitating large-scale money laundering operations.
Tether, one of the main issuers of stablecoin, froze at the time 27 million dollars in USDt present on the platform, forcing it to halt services.
In an attempt at rebirth, Garantex allegedly tried to reposition itself under a new brand, “Grinex”. However, the operations were quickly monitored and blocked by US and international authorities.
The turning point came in mid-March. That is when the Indian Central Bureau of Investigation arrested Aleksej Bešciokov, a Lithuanian citizen considered one of the main figures responsible for the exchange.
The arrest was made on the basis of U.S. charges for conspiracy to launder money, illegal operation of a financial activity, and violation of the International Emergency Economic Powers Act.
Global implications: national security also depends on Web3
The event raises crucial questions about the role of cryptocurrencies in modern conflicts and global security.
With anonymous wallets, irreversible transactions, and decentralized platforms, the crypto world can offer agile tools for operations outside the perimeter of traditional finance. But this flexibility can turn into a weapon in the wrong hands.
The US authorities have demonstrated that forensic analysis of the blockchain can prove to be a powerful tool in countering the financing of terrorism.
The intrinsic transparency of distributed networks, if used effectively, allows for tracing illicit flows and stopping them before they can have a devastating impact.
With the addition of eight new crypto wallets to the sanctions list, the United States sends a clear message. That is, cryptocurrencies are no longer immune from international control.
Those who use them to finance violence, terrorism, or global destabilization will find more and more obstacles along the way. It is a strong signal for the entire sector, called to choose whether to remain a free frontier or to evolve towards a new standard of global responsibility.
