Arrest of Alexsej Besciokov: A Major Strike Against Cryptocurrency Crime
Alexsej Besciokov, a Lithuanian national and cryptocurrency exchange co-founder, was arrested in India at the request of the US for facilitating money laundering and other illicit activities. He is charged with conspiracy to violate sanctions and operate an unlicensed money transmitting business. Garantex, the exchange he co-founded, has laundered billions related to cybercrime, becoming a target for international law enforcement.
Alexsej Besciokov, a Lithuanian national, was arrested by the Kerala police in India at the request of the United States. The Central Bureau of Intelligence reported that the 46-year-old was on vacation with his family when authorities apprehended him on Tuesday evening, as he was allegedly planning to flee the country. The reason for his presence in India remains unclear.
The arrest was executed pursuant to a provisional warrant issued by India’s foreign ministry at the request of Washington. Besciokov is a co-founder of Garantex, a cryptocurrency exchange that faced US sanctions in 2022. Police allege that he played a significant role in facilitating billions of dollars in money laundering for transnational criminal and cybercriminal organizations.
On March 7, the US Department of Justice unsealed an indictment against Besciokov, who is now listed among the Most Wanted by the US Secret Service. Alongside him, Aleksandr Mira Serda, a Russian national residing in the UAE and also a Garantex co-founder, has been indicted. The charges against Besciokov include conspiracy to violate sanctions and operate an unlicensed money transmitting business.
According to the CBI, Besciokov profited from laundering proceeds related to ransomware, computer hacking, and drug trafficking. From 2021 to 2024, Garantex allegedly laundered substantial sums originating from ransomware operations involving groups such as Black Basta, Play, and Conti. The exchange has facilitated approximately $96 billion in cryptocurrency transactions since its inception in April 2019.
Moreover, a coalition of international law enforcement agencies, including those from the US, Germany, and Finland, recently seized Garantex’s domains and servers while freezing nearly $28 million in cryptocurrency linked to the exchange. It has been reported that Garantex laundered funds for notable criminals, including members of North Korea’s Lazarus Group, while evading sanctions.
TRM Labs referenced the seizure of Garantex as a significant development in the battle against illicit finance, but cautioned that sanctioned exchanges frequently try to circumvent restrictions by establishing new entities.
In summary, Alexsej Besciokov, a Lithuanian and co-founder of the sanctioned cryptocurrency exchange Garantex, has been arrested in India based on a US request. He is implicated in extensive money laundering schemes tied to international cybercrime. The capture emphasizes ongoing efforts by US and allied law enforcement to dismantle networks involved in illicit financial activities.
Original Source: www.livemint.com
