Arrest of Alexsej Besciokov: Crypto Kingpin and Garantex Co-Founder Detained in India
Alexsej Besciokov, a Lithuanian co-founder of Garantex, was arrested in India at the request of the U.S. He faces serious charges including money laundering and conspiracy to operate an unlicensed money transmitting business. His cryptocurrency exchange was sanctioned in 2022 and is linked to billions in illicit transactions. International law enforcement recently took steps to disrupt Garantex’s operations.
Alexsej Besciokov, a Lithuanian national, was arrested in Kerala, India, at the request of the United States. The 46-year-old was allegedly on vacation with his family when he was apprehended by Varkala police on a provisional arrest warrant issued by India’s foreign ministry. The specific reasons for his presence in India remain unclear, but law enforcement indicated he intended to flee the country.
Besciokov is a co-founder of Garantex, a cryptocurrency exchange that was sanctioned by the U.S. government in 2022. The Central Bureau of Intelligence (CBI) highlighted that he facilitated billions of dollars in money laundering for transnational criminal and cybercriminal organizations. The U.S. Department of Justice unsealed an indictment against him on March 7, which places him on the U.S. Secret Service’s Most Wanted list.
Another individual named in the indictment is Aleksandr Mira Serda, a 40-year-old Russian national residing in the UAE and co-founder of Garantex. In addition to money laundering charges, Besciokov is accused of conspiracy to violate sanctions and operating an unlicensed money transmitting business.
According to the CBI, Besciokov profited from laundering proceeds of ransomware, computer hacking, and narcotics transactions. Between 2021 and 2024, Garantex reportedly laundered millions linked to various ransomware groups, including Black Basta, Play, and Conti. Since April 2019, the exchange has handled approximately $96 billion in cryptocurrency transactions.
Recently, a coalition of international law enforcement agencies, including the U.S., Germany, and Finland, seized Garantex’s domains and servers, freezing nearly $28 million in cryptocurrency associated with the exchange. Garantex has been accused of laundering funds for criminal organizations such as North Korea’s Lazarus Group while bypassing sanctions. In a recent blog post, TRM Labs noted that the actions against Garantex represent a significant achievement in combating illicit finance but warned that sanctioned exchanges often evade restrictions by establishing new entities.
The arrest of Alexsej Besciokov highlights significant ongoing efforts by international law enforcement to combat cryptocurrency-related crime. His involvement with Garantex, which facilitated extensive money laundering and operated in defiance of sanctions, underscores the critical need for stringent regulations in the cryptocurrency sector. The international coalition’s recent actions against Garantex represent a pivotal move in addressing illicit financial activities.
Original Source: www.livemint.com
