Russian cryptocurrency exchange Garantex has temporarily suspended all its services after Tether froze $28 million worth of USDT held on the exchange. The announcement came via a Telegram post from Garantex on March 6,

"Tether has entered the war against the Russian crypto market and blocked our wallets worth over 2.5 billion rubles," Garantex said.

Stablecoin operator Tether has frozen $27 million in USDt on the sanctioned Russian Garantex crypto exchange, forcing the platform to halt operations. “Tether has entered the war against the Russian crypto market and blocked our wallets worth more than 2.

Russian cryptocurrency exchange Garantex on Thursday said stablecoin Tether had blocked digital wallets on its platform holding more than 2.5 billion roubles ($28 million), forcing it to suspend operations days after coming under EU sanctions.