{"id":21852,"date":"2025-03-08T12:25:34","date_gmt":"2025-03-08T10:25:34","guid":{"rendered":"https:\/\/forklog.com\/en\/dmitry-machikhin-the-garantex-case-raises-concerns\/"},"modified":"2025-03-08T12:25:34","modified_gmt":"2025-03-08T10:25:34","slug":"dmitry-machikhin-the-garantex-case-raises-concerns","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/dmitry-machikhin-the-garantex-case-raises-concerns\/","title":{"rendered":"Dmitry Machikhin: The Garantex Case Raises Concerns"},"content":{"rendered":"<p>In the &#8220;Podcast Society&#8221; on ForkLog&#8217;s YouTube channel, Dmitry Machikhin, founder of the AML service BitOK, explained why Garantex&#8217;s funds have vanished, the risks USDT holders face, who truly owns centralised crypto assets, and whether there is a future for the Russian crypto business.<\/p>\n<p>The recent <a href=\"https:\/\/forklog.com\/en\/news\/garantex-halts-operations-following-usdt-wallet-freeze\">blockage<\/a> of 2.5 billion rubles and the seizure of the domain by US authorities have caused panic among users. According to Machikhin, the exchange&#8217;s liquidity has been severely affected:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;These funds are no longer available. They are blocked, seized, and withdrawn.&#8221;<\/p>\n<\/blockquote>\n<p>The expert emphasised that there is no direct damage to ordinary users, but wallets interacting with frozen addresses may receive a Seized Funds label, complicating their use.<\/p>\n<p>Machikhin described the situation as expected:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Tether is a centralised issuer. Everyone was aware of the smart contract functions that allow tokens to be frozen or minted.&#8221;<\/p>\n<\/blockquote>\n<p>In response to a comment by Exved CEO Sergey Mendeleev about the <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%A7%D1%91%D1%80%D0%BD%D1%8B%D0%B9_%D0%BB%D0%B5%D0%B1%D0%B5%D0%B4%D1%8C_(%D0%BA%D0%BE%D0%BD%D1%86%D0%B5%D0%BF%D1%86%D0%B8%D1%8F)\">&#8220;black swan&#8221;<\/a>, the expert replied:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The blockage was not unexpected. Tether has been cooperating with analytical companies like Chainalysis for years. The growth of Garantex&#8217;s turnover attracted attention, leading to these consequences.&#8221;<\/p>\n<\/blockquote>\n<p>Machikhin stressed that this is not solely about sanctions.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;When the US Secret Service gets involved, it always &#8216;smells&#8217; of hidden motives. Garantex&#8217;s funds will not return\u2014they have been taken permanently. But the main thing is that ordinary users will not suffer if their wallets are not linked to the seized addresses,&#8221; he explained.<\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/8MhjxvXqntw?si=xuZinLWmC7TXGmhp\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><em>Subscribe to the podcast:<\/em><\/p>\n<p><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/%D0%BF%D0%BE%D0%B4%D0%BA%D0%B0%D1%81%D1%82%D0%BE%D0%B2%D0%BE%D0%B5-%D0%BE%D0%B1%D1%89%D0%B5%D1%81%D1%82%D0%B2%D0%BE\/id1794909864\">Apple Podcasts<\/a><\/p>\n<p><a href=\"https:\/\/open.spotify.com\/show\/78X4DY4vd24hiHgmzjhuiZ\">Spotify<\/a><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=8MhjxvXqntw\" title=\"\">YouTube<\/a><\/p>\n<p><a href=\"https:\/\/www.deezer.com\/ru\/show\/1001616811\">Deezer<\/a><\/p>\n<p><a href=\"https:\/\/music.yandex.ru\/album\/35389560\">Yandex Music<\/a><\/p>\n<p><a href=\"https:\/\/music.youtube.com\/playlist?list=PLVTwIlNOBqzeZHDtPzHkvVJw46qxHFw4T\">YouTube Music<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the &#8220;Podcast Society&#8221; on ForkLog&#8217;s YouTube channel, Dmitry Machikhin, founder of the AML service BitOK, explained why Garantex&#8217;s funds have vanished, the risks USDT holders face, who truly owns centralised crypto assets, and whether there is a future for the Russian crypto business. The recent blockage of 2.5 billion rubles and the seizure of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1241],"class_list":["post-21852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-podcast"],"aioseo_notices":[],"amp_enabled":true,"views":"43","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=21852"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21852\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/21851"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}