Indian authorities have confirmed the arrest of Aleksej Besciokov, an administrator of the cryptocurrency exchange Garantex, who is wanted by the United States for his alleged involvement in cybercrime and money laundering activities. Besciokov, a Lithuanian national living in Russia, was apprehended in Kerala on Tuesday, as part of an operation initiated by India’s top investigative agency upon a request from the US Justice Department (DOJ).
The DOJ's indictment outlines that Besciokov played a crucial role in managing and approving transactions for Garantex, a platform that has been under scrutiny for processing an estimated $96 billion in cryptocurrency transactions since its inception in 2019. The US authorities have accused Garantex of being a conduit for criminal proceeds, allegedly linked to various illicit activities including hacking, ransomware attacks, terrorism funding, and drug trafficking.
Following the crackdown on Garantex's operations by the US, in collaboration with Germany and Finland, Besciokov and his co-founder, Aleksandr Mira Serda, were charged with money laundering last week. The indictment further notes that Garantex was sanctioned by the US Treasury Department in 2022, but Besciokov and his team reportedly revamped their operational strategies to circumvent these prohibitions and entice American businesses into potential dealings.
As Besciokov remains in custody in India, authorities have yet to disclose the timeline concerning his extradition to the US. Reports indicate that he has not issued any statement concerning the charges against him. Garantex has reportedly been unresponsive to inquiries for comments, highlighting the ongoing complexities in international law enforcement regarding cryptocurrency-related crimes.
