Executive Summary and Exchange Overview
| Service type | Crypto-fiat exchange: order-book + P2P ruble-to-crypto trading, physical cash desks, futures and margin, cryptomat hardware |
| Legal entity | Nueva Cryptologia, Sociedad Por Acciones Simplificada de Capital Variable (S.A.S. de C.V.), d.b.a. ABCex Confirmed [UK FCDO] |
| Aliases / branding | ABCEX, ABCeX; marketed as "crypto-fiat exchange" and "P2P arbitrage exchange No. 1"; brand ambassador Khabib Nurmagomedov |
| Entity registration jurisdiction | El Salvador (Nueva Cryptologia S.A.S. de C.V.) Confirmed. Secondary veneer: Tbilisi Technology Park free industrial zone, Georgia (Google Play app listing) Credible |
| Infrastructure hosting jurisdiction | Not publicly mapped; primary domain abcex.io. Customer-facing operations anchored in Russia (offices, cash desks, cryptomats) Credible |
| Assessed operator location | Russia (Moscow, Federation Tower). Assessed figure Sergey Mendeleev (Russian), assessed in Russia/UAE Credible |
| Operational period | Emerged late 2023; rapid expansion 2024 to 2025; futures and margin launched January 2026; operational as of June 2026 |
| Volume (cumulative) | At least $11B in cryptoassets processed (Elliptic, Feb 2026). Do not average across vendors: TRM reports $355M bilateral exposure to the UK-sanctioned + A7 set since 2023 (a counterparty-specific figure, not total throughput) |
| Geographic footprint | 37 crypto-to-cash offices in Russia; presence in Kyrgyzstan; Russia/CIS-centric user base |
| OFAC designation | Entity: not designated as of June 2026 Confirmed. Assessed operator Mendeleev: designated 14 Aug 2025 Confirmed |
| UK designation | Designated 26 May 2026, Russia (Sanctions) (EU Exit) Regulations 2019 Confirmed [UK FCDO] |
| EU designation | Not individually listed as of June 2026; EU 21st sanctions package (proposed 9 June 2026) includes transaction bans on 11 crypto platforms (adoption pending) Credible |
| State nexus tier | TOLERATED SAFE HARBOR (edging toward PROBABLE COOPERATION); no DIRECT CONTROL evidence |
| Status | Sanctioned (UK, 26 May 2026); operational; part of post-Garantex reconstitution |
| Blockchain analytics coverage | Elliptic and TRM Labs (entity-specific reporting); Kharon (corporate-network); TI-Russia (cryptolaundromat) |
Lineage and Organizational Heritage
Part of the Post-Garantex Successor Ecosystem
Evidentiary Pillars
| Pillar | Evidence | Confidence |
|---|---|---|
| Shared physical infrastructure | ABCeX operates from Moscow's Federation Tower, a location previously occupied by sanctioned Garantex. Kharon notes the tower also hosts/hosted Aifory Pro, Garantex, and VTB Bank. | CONFIRMED Elliptic; Kharon |
| On-chain interplay | TRM identifies ABCeX as Garantex's third-largest on-chain counterparty; relationship began October 2023. $133.4M bilateral with Garantex. Elliptic reports significant ABCeX flows to Garantex and Aifory Pro. | CONFIRMED TRM Labs; Elliptic |
| Human-capital tie (Mendeleev) | UK FCDO links ABCeX to Garantex co-founder Sergey Mendeleev. TRM notes ABCeX's "historic ties to Garantex co-founder Sergey Mendeleev." Mendeleev publicly denies founding ABCeX. | CREDIBLE UK FCDO; TRM; FinTelegram |
| USDT cluster interplay (Arvix/Exved) | TI-Russia reports "dynamic financial interplay between Arvix.pro (ABCEX), Garantex, and Grinex," with continuous USDT flows across the cluster. Now partially corroborated by the broader Mendeleev/Exved nexus. | CREDIBLE Single Source TI-Russia (cryptolaundromat) for the specific Arvix interplay |
Operator Profiles
| Individual | Details | Legal status |
|---|---|---|
| Sergey Mendeleev | Co-founder of Garantex; founder/controller of Exved and InDeFi Bank (with Alexander Lebedev, former KGB/SVR officer). Assessed key figure behind ABCeX management; publicly denies founding it. Nationality: Russian. Assessed location: Russia/UAE. | OFAC designated 14 Aug 2025 (as Garantex executive; Exved, InDeFi Bank). UK ties ABCeX to him 26 May 2026. Not in custody. Confirmed (OFAC); Credible (ABCeX tie) |
Disputed Assessments
Credible Mendeleev's public denial of founding ABCeX is the principal disputed point. The analytic position taken here treats the operational tie as CREDIBLE (single strong government source plus vendor corroboration) rather than CONFIRMED, because no charging document or court finding has adjudicated his specific role at ABCeX. The OFAC designation of Mendeleev as a Garantex executive is CONFIRMED and independent of the ABCeX question. [UK FCDO, OFAC, TRM, FinTelegram]
Service Model and Business Operations
Exchange Mechanics and Product Set
Confirmed ABCeX runs a hybrid centralized-exchange plus P2P model anchored in ruble flows. Elliptic confirms it "facilitates both order-book and P2P ruble-to-cryptoasset trading." Marketed assets include USDT and "ruble code"; users can top up by bank card or cash. In January 2026 the platform launched bitcoin futures and margin trading, moving beyond basic spot/P2P into leveraged products. [Elliptic, Bits.media]
Credible ABCeX positions itself for P2P arbitrage ("P2P arbitrage exchange No. 1") and has deployed what it claims is the world's first no-fee "cryptomat" hardware for free crypto deposits and withdrawals, with stated plans to expand to other Russian cities. [Bits.media]
Credible Per Kharon, ABCeX also operates a white-label model: it lets secondary exchanges build their own storefronts on its technology, "allowing new entities to offer the same services for which ABCEX was sanctioned." This is a resilience and reconstitution mechanism, not just a retail product. [Kharon]
KYC/AML Posture: Stated Policy vs Observed Behavior
Observed behavior (sourced to vendor/government framing, not the exchange's claims): Elliptic reports ABCeX "utilises a wallet obfuscation strategy to prevent cryptoasset transactions from being linked to the service," a technique inconsistent with transparency or effective monitoring. The UK designated the entity for providing material services to sanctioned exchanges (Garantex, Grinex). The gap between an absent/unstated compliance posture and observed obfuscation plus large flows to sanctioned counterparties is the primary analytical finding. Confirmed [Elliptic, UK FCDO]
Fiat Rails (Schema Rule: Must Be Addressed)
Credible ABCeX's fiat on/off ramps are predominantly physical and P2P rather than banking-rail: 37 crypto-to-cash offices across Russia (plus presence in Kyrgyzstan) for cash deposits and withdrawals; cryptomat hardware for cash payouts; and P2P integration for card-based and local transfers exploited by arbitrageurs. [Phemex, Bits.media]
Banking relationships: No specific banks or payment processors are publicly named as ABCeX counterparties; flows are described generically as RUB and card payments. No documented de-risking or bank-termination events appear in open sources. This subsection is included per schema even though no named bank relationship is documented. Credible
Licensing and Regulatory Standing
Confirmed The platform's legal entity, Nueva Cryptologia, S.A.S. de C.V., is registered in El Salvador. A secondary Georgian free-industrial-zone address appears on the Google Play app listing. No license number or named regulator is cited for either jurisdiction; both read as registration veneers for a Russia-centric operation rather than evidence of substantive licensed supervision. There is no evidence of EU or UK licensing; the platform is now UK-designated rather than UK-licensed. [UK FCDO, Google Play]
Technical Infrastructure and Platform Footprint
Domains, Hosting, APIs
Confirmed Primary domain: abcex.io, with mobile subdomain m.abcex.io used for onboarding and referral flows. The platform advertises dedicated API support via Telegram (@ABCEX_API_support), indicating API endpoints for market-maker and arbitrage clients. [UK FCDO, ABCeX Telegram]
Mobile Apps and Bots
Credible Android app "ABCEX: Buy & Sell Crypto" is listed on Google Play in Russian and English (the English listing carries the Tbilisi FIZ address). A Russian-language Telegram channel (@abcex_io) advertises a trading link, official bot (@ABCEX_IO_BOT), tech support (@ABCEX_support1, @ABCEX_SUPPORT_BOT), regional support (@ABCEX_City_support), API support, and a separate desk-to-desk OTC bot (@abcex_exchange_bot). [Google Play, ABCeX Telegram]
Architecture Hints
Analyst Inference The feature set (order book, P2P, futures, margin, cryptomat integration, white-label provisioning to third parties) implies a proprietary platform rather than a low-cost turnkey white-label. Elliptic's note on wallet obfuscation suggests an internal wallet-management system that separates user deposit addresses from exchange hot wallets via intermediate hops. Public confirmation of the stack is not available. [Elliptic, Bits.media]
Resilience After Disruption
Confirmed ABCeX's relevant disruption to date is the March 2024 Crocus-linked raids (see Section 08), after which it resumed operations and subsequently expanded (futures, margin, cryptomats). Its white-label provisioning to Ural.Ex and AWX is a structural resilience feature: it lets the underlying technology and client base persist under new storefronts even as the ABCeX brand itself attracts enforcement. [Kommersant, Kharon, Bits.media]
Financial Intelligence and On-Chain Analysis
Overall Volume and Role
TRM Labs (May 2026): $355 million bilateral exposure to the UK-sanctioned + A7-network set since 2023 (a counterparty-specific figure, not total throughput): $175.2M with Aifory Pro, $133.4M with Garantex, $38.1M with Rapira.
These figures measure different things (total processed vs. sanctioned-counterparty bilateral exposure) and are presented separately, not combined.
Phase 1: Receipt (Who Deposits and From Where)
Confirmed Elliptic frames ABCeX as serving sanctioned and high-risk Russia-centric actors. TRM data shows ABCeX sits at the center of the post-Garantex ecosystem with inbound flows from the broader Russia-linked network. Public reporting does not break out criminal vs. licit share; the $11B figure is total processed value, not strictly illicit. [Elliptic, TRM]
Phase 2: Layering (Internal Mechanics, Obfuscation)
Confirmed Elliptic: "ABCeX utilises a wallet obfuscation strategy to prevent cryptoasset transactions from being linked to the service," implying service-owned wallets not clearly branded as exchange addresses plus inter-wallet hops to complicate attribution. [Elliptic]
Credible Single Source TI-Russia describes "dynamic financial interplay" among Arvix.pro (ABCEX), Garantex, and Grinex with continuous USDT flows, implying multi-step routing across services for layering. No public address lists or graphs accompany this claim. [TI-Russia]
Phase 3: Extraction (Where Funds Go)
Confirmed To other exchanges: TRM quantifies ABCeX's outbound role as the dominant source of inflows to Aifory Pro ($168.7M inbound to Aifory; ABCeX = 96% of Aifory's sanctioned-counterparty inflows), plus $133.4M bilateral with Garantex and $38.1M with Rapira. This positions ABCeX as an upstream hub feeding downstream nodes, not a terminal settlement venue. To fiat: physical cash extraction via the 37 offices and cryptomats, plus P2P RUB payouts. [TRM, Elliptic, Phemex]
Designated Addresses and Risk Status
Confirmed No OFAC-designated ABCeX wallet addresses exist (the entity is not on the OFAC SDN list). The UK 26 May 2026 designation lists the legal entity and website but, in public materials reviewed, does not enumerate specific wallet addresses. El Salvador (registration) and Georgia (app-listing veneer) are not on FATF black/grey lists; the relevant exposure is jurisdictional arbitrage, not host-country blacklisting. [OFAC, UK FCDO]
Client Profile and Criminal Use
Crimeware Verticals by Evidence Tier
| Vertical | Evidence | Confidence |
|---|---|---|
| Sanctions evasion / state-aligned flows | Elliptic, UK FCDO, and TRM all frame ABCeX as core post-Garantex sanctions-evasion infrastructure, converting rubles to crypto for cross-border movement shielded from banking oversight. | CONFIRMED |
| Terrorism-financing investigation (Crocus) | March 2024 raids of ABCeX and Beribit in Federation Tower in a case about financing the Crocus City Hall attack. TRM states ABCeX is "under investigation for facilitating transactions linked to the March 2024 Crocus City Hall terrorist attack." No charges against the exchange itself published. | CREDIBLE Channel under investigation, not confirmed culpability |
| Ransomware / darknet / carding / fraud | No open-source case names ABCeX as a specific cash-out venue for a named ransomware family or darknet market. Given its role, location, and counterparties, such use is highly likely but not individually evidenced in public reporting. | ANALYST INFERENCE |
Geographic Patterns
Confirmed ABCeX is Russia-centric in operations (offices, cryptomats, RUB focus) with CIS extension (Kyrgyzstan), making it a natural hub for Russian and CIS-based actors. There is no sign in open sources of meaningful U.S./EU retail targeting; non-CIS usage is likely incidental or for cross-jurisdictional flows. [Phemex, Elliptic, Bits.media]
High-Profile Flows
Confirmed The best-evidenced high-profile flows are inter-exchange: ABCeX to Aifory Pro ($175.2M), to Garantex ($133.4M), and to Rapira ($38.1M) per TRM. These are the concrete, quantified criminal-adjacent flows; individual victim-level cases are not public. [TRM]
State Nexus Assessment
Jurisdictional Separation (Schema Rule: Three Jurisdictions)
| Jurisdiction type | Assessment | Confidence |
|---|---|---|
| 1. Entity registration | El Salvador: Nueva Cryptologia, S.A.S. de C.V. (Avenida La Revolucion, Plaza Presidente). Secondary veneer: Tbilisi Technology Park FIZ, Georgia (Google Play listing). | CONFIRMED (El Salvador) / CREDIBLE (Georgia veneer) |
| 2. Infrastructure hosting | Not publicly mapped. Domain abcex.io; customer-facing operations (offices, cash desks, cryptomats) anchored in Russia. Hosting provider and server location unknown. | CREDIBLE (Russia-anchored ops) / UNKNOWN (specific hosting) |
| 3. Assessed operator location | Russia (Moscow, Federation Tower). Assessed figure Sergey Mendeleev (Russian), assessed in Russia/UAE. | CREDIBLE |
State Nexus Tier: TOLERATED SAFE HARBOR (edging toward PROBABLE COOPERATION)
Indicators edging toward Probable Cooperation: Continued operation after the 2024 raids and after Elliptic/UK exposure, without visible Russian enforcement, suggests at least tacit acceptance. The platform's integration into the broader A7/Garantex-successor structure (which has state-linked elements via Promsvyazbank and sanctioned oligarch Ilan Shor) raises the possibility of infrastructural support for state resilience under sanctions. This A7 linkage is network-level context; direct state tasking of ABCeX is not evidenced.
Evidence against Direct Control: No open-source evidence that FSB, Rosfinmonitoring, or other state organs own or manage ABCeX; no named officials or state entities identified as shareholders.
Negative Evidence (What Would Be Expected if Higher Nexus Existed)
If ABCeX were under DIRECT CONTROL or PROBABLE COOPERATION, one would expect indicators such as documented state shareholding, named intelligence-officer involvement, procurement or defense-payment tasking, or protection signaling (e.g., enforcement immunity letters). None of these are present in open sources. The 2024 raids cut against a strong-protection reading, although their inconclusive outcome is also consistent with tolerated operation. The assessment therefore stops at TOLERATED SAFE HARBOR with movement indicators, not PROBABLE COOPERATION. Analyst Inference
Law Enforcement and Regulatory Response
Sanctions
| Authority | Action | Status |
|---|---|---|
| UK (FCDO / OFSI) | Designated Nueva Cryptologia S.A.S. de C.V. (d.b.a. ABCex) on 26 May 2026 under the Russia (Sanctions) (EU Exit) Regulations 2019, for material services to sanctioned exchanges Garantex and Grinex. Part of an 18-designation package (incl. Huobi/HTX, Exmo, Bitpapa, Rapira, Aifory Pro, A7, A7A5 issuer). First UK use of Reg 17A (correspondent-banking/payment-processing ban) against crypto platforms. | CONFIRMED (asset freeze in force) |
| OFAC (U.S.) | ABCeX entity not designated as of June 2026. Assessed operator Sergey Mendeleev designated 14 Aug 2025 (as Garantex executive; Exved and InDeFi Bank network). | CONFIRMED (entity not listed; operator listed) |
| EU | ABCeX not individually listed. EU 21st sanctions package proposed 9 June 2026 includes transaction bans on 11 Russia-linked crypto platforms; adoption and entity-specific scope pending. | CREDIBLE (proposed, not yet adopted) |
| FinCEN | No Section 311 action or advisory specific to ABCeX in open sources. | CONFIRMED (negative evidence) |
Raids and Investigations
Post-Sanction Reconstitution Assessment (Schema Rule)
Connected Entities and Ecosystem Relationships
Tier 2, Facilitation assessment: an analytical characterization of ABCeX's role: Active facilitation, Structural enablement, or Incidental processing. The two tiers are independent and never collapsed.
| Entity | Tier 1: Transaction confidence | Tier 2: Facilitation | Vendor coverage |
|---|---|---|---|
| Garantex Sanctioned exchange; shared Federation Tower |
CONFIRMED TRM: $133.4M bilateral; ABCeX = Garantex's 3rd-largest counterparty; began Oct 2023. Elliptic: significant ABCeX flows to Garantex. |
Structural enablement with probable active facilitation Wallet obfuscation + Mendeleev tie + large flows to a sanctioned exchange exceed incidental overlap. |
Corroborating: TRM, Elliptic, Kharon, UK FCDO. None disagreeing. |
| Aifory Pro UK-sanctioned high-risk exchange |
CONFIRMED TRM: $175.2M bilateral ($168.7M inbound to Aifory); ABCeX = 96% of Aifory's sanctioned-counterparty inflows. Elliptic corroborates. |
Structural enablement ABCeX is upstream hub feeding Aifory; no evidence of joint ownership. Both UK-designated same day. |
Corroborating: TRM, Elliptic. None disagreeing. |
| Rapira UK-sanctioned; Georgia-incorporated, Moscow office |
CONFIRMED TRM: $38.1M bilateral with ABCeX. Kharon: shared white-label partner (Ural.Ex). |
Structural enablement Peer node providing redundant ruble-to-crypto pathways; Ural.Ex markets both. |
Corroborating: TRM, Kharon. None disagreeing. |
| Grinex Sanctioned Garantex successor |
CREDIBLE UK cites ABCeX's "suspected links to Garantex and Grinex." TI-Russia: Arvix/ABCEX-Garantex-Grinex USDT interplay. Single Source for the direct Arvix interplay (TI-Russia) |
Structural enablement Cluster co-participation; direct ABCeX to Grinex flow not separately quantified in public vendor data. |
Corroborating: UK FCDO (assertion), TI-Russia. TRM/Elliptic have not published a direct ABCeX to Grinex figure. |
| Ural.Ex Yekaterinburg OTC desk; white-label partner |
CREDIBLE Kharon: Ural.Ex markets itself as official partner of ABCeX (and Rapira), running on ABCeX-provisioned tech. Single Source |
Active facilitation Markets sanctions-evasion invoice settlement and EU-export workarounds; ABCeX knowingly powers the storefront. |
Corroborating: Kharon. No other vendor has published. Single Source |
| AWX Solutions FZ LLC Dubai; assessed rebrand of US-sanctioned Crypto Explorer DMCC/AWEX |
ANALYST INFERENCE Kharon: AWX is a Ural.Ex partner sharing the Yekaterinburg desk and a Federation Tower address; ecosystem-level, not a direct ABCeX flow. Single Source |
Structural enablement Two hops from ABCeX via Ural.Ex; provides UAE off-ramp redundancy. Ukraine-sanctioned (Jul 2025). |
Corroborating: Kharon. No other vendor has published. Single Source |
| Bitpapa UAE-registered P2P; OFAC/Ukraine/UK sanctioned |
ANALYST INFERENCE Same Elliptic/UK network; no public direct ABCeX to Bitpapa flow figure. |
Structural enablement Co-participant in the sanctions-evasion corridor; no evidence of coordinated operations. |
Corroborating (network-level): Elliptic, TRM, UK FCDO. No direct bilateral figure published. |
| Huobi / HTX UK-sanctioned global exchange |
CREDIBLE TRM: Huobi is a persistent counterparty to nearly every entity in the UK package incl. the ABCeX successor set ($1.13B to the set post-takedown); ABCeX-specific bilateral not isolated. |
Structural enablement Large-exchange liquidity bridge for the successor set; ABCeX-specific role likely incidental at the bilateral level. |
Corroborating: TRM. Huobi/HTX publicly disputes that the sanctioned entity equals its operating brand. |
| A7 / A7A5 (Old Vector LLC) UK-sanctioned ruble-stablecoin infrastructure |
ANALYST INFERENCE ABCeX is within the broader UK-sanctioned + A7 set in TRM's analysis; no isolated ABCeX to A7 bilateral published. |
Structural enablement Network-level; A7 has state-linked elements (Promsvyazbank, Ilan Shor). Relevant to Section 07 nexus. |
Corroborating (network-level): TRM, UK FCDO. |
| Beribit Co-raided Moscow exchange |
ANALYST INFERENCE Joint March 2024 Federation Tower raids; no public on-chain link. |
Unknown / Incidental Plausible overlapping client base; not substantiated in open sources. |
Corroborating: RBC, Kommersant (raid co-location only). No on-chain vendor link published. |
Trajectory Assessment
Market Position and Volume Trends
Confirmed ABCeX is one of the principal platforms that absorbed Garantex's ruble-onramp function. TRM shows flows to the successor set (Rapira, Aifory Pro, Grinex.io, ABCeX, A7, A7A5) grew more than tenfold after the March 2025 Garantex takedown, from $111M in the prior 26 months to $1.13B in the following 14 months. ABCeX sits at the center of that set as Garantex's third-largest historical counterparty and Aifory's dominant inflow source. [TRM, Elliptic]
Disruption Impact
Reconstitution Status
ABCeX brand: Operational and expanding. Futures and margin launched Jan 2026; white-label provisioning live (Ural.Ex, AWX). Confirmed
As a successor: Active. Core node in the post-Garantex reconstitution. Confirmed [TRM]
Future reconstitution risk: High. Asset-freeze designation without seizure plus white-label continuity means services can migrate to new storefronts. Credible [Kharon]
Intelligence Gaps
Recent Reporting
[9 Jun 2026] Kharon reports ABCeX (alias Nueva Cryptologia) continues operating and white-labeling its technology to Ural.Ex and AWX despite the UK designation; documents the Federation Tower cluster and Khabib Nurmagomedov marketing. [Kharon]
[26 May 2026] UK FCDO designates ABCeX and 17 other entities/individuals (Huobi/HTX, Exmo, Bitpapa, Rapira, Aifory Pro, A7, A7A5 issuer, Eurasian Savings Bank); TRM and Elliptic publish analyses; first UK use of Reg 17A against crypto. [UK FCDO, TRM, Elliptic]
[21 Feb 2026, updated 3 Mar 2026] Elliptic names ABCeX in its Russia-linked sanctions-evasion report: $11B processed, wallet obfuscation, flows to Garantex and Aifory Pro. [Elliptic]
[Jan 2026] ABCeX launches bitcoin futures and margin trading. [Bits.media]
[14 Aug 2025] OFAC designates Sergey Mendeleev (Garantex co-founder) with Exved, InDeFi Bank, and the Grinex network. [OFAC]
[Mar 2024] Russian security services raid ABCeX and Beribit in Federation Tower in the Crocus attack financing case; operations later resume. [RBC, Kommersant]
Sources
- Elliptic: Russia-linked cryptocurrency services and sanctions evasion : 21 February 2026 (updated 3 March 2026)
- UK FCDO: UK cracks down on backdoor Russian sanctions evasion with tough new measures : 26 May 2026
- UK Government: List of Russia sanctions designations, 26 May 2026 (Nueva Cryptologia S.A.S. de C.V., d.b.a. ABCex)
- TRM Labs: UK Designates Huobi, Exmo, Bitpapa, and 11 Other Entities for Russian Crypto Sanctions Evasion : 26 May 2026
- Kharon: These Crypto Exchanges Are Openly Offering To Help Russians Skirt Sanctions : 9 June 2026
- TRM Labs: The Imitation Game: Following Garantex's Takedown : 3 September 2025
- U.S. Treasury / OFAC: Sanctions on Garantex successor network and executives (Mendeleev, Mira Serda, Karavatsky) : 14 August 2025
- Transparency International Russia: Exved, The Ghost Successor of Garantex (Arvix/ABCEX-Garantex-Grinex interplay) : 2025
- FinTelegram: Sergey Mendeleev, Garantex, and Exved compliance report
- Phemex: ABCEX opens 37 offices in Russia for crypto-to-cash services
- Bits.media: ABCEX launches bitcoin futures and margin trading : January 2026
- RBC: Security services conduct searches at crypto exchange (ABCeX, Beribit; Crocus case) : 29 March 2024
- Kommersant: Beribit and ABCEX report end of searches at their offices : March 2024
- Google Play: ABCEX: Buy & Sell Crypto (Tbilisi FIZ address on English listing)
- OFAC Sanctions List Search (checked: ABCeX/Nueva Cryptologia entity not designated as of June 2026)
Profile produced using open-source intelligence. Confidence labels applied per schema: CONFIRMED (multiple independent sources), CREDIBLE (single strong source or multiple weaker sources), ANALYST INFERENCE (logical extrapolation from confirmed facts). Volume figures cited with source and methodology; figures from different vendors and authorities are presented separately, not averaged. Two-tier connected entity model applied throughout Section 09 (Tier 1 transaction confidence + Tier 2 facilitation assessment). Three jurisdictions documented separately per schema. Status: Sanctioned (UK, 26 May 2026); operational; assessed state nexus TOLERATED SAFE HARBOR.