Alexsej Besciokov: Crypto Kingpin Arrested in India on U.S. Request

Alexsej Besciokov, a wanted Lithuanian national, was arrested in India at the U.S. request. He co-founded Garantex, a cryptocurrency exchange sanctioned for facilitating major money laundering efforts. Besciokov faces serious charges and is currently listed on the U.S. Secret Service’s Most Wanted list, amid efforts to dismantle Garantex’s operations.

Alexsej Besciokov, a Lithuanian national, was apprehended by Kerala police at the request of the United States. The 46-year-old had been on vacation with his family when he was arrested by Varkala police, who noted that he was planning to leave India. The exact reason for his visit to India remains unclear.

A provisional arrest warrant was issued by India’s foreign ministry following a request from Washington. Besciokov, a resident of Russia, co-founded Garantex, a cryptocurrency exchange that faced sanctions from the U.S. government in 2022.

Besciokov is implicated in facilitating extensive money laundering activities involving billions of dollars linked to global criminal and cybercriminal organizations. The U.S. Department of Justice unveiled an indictment against him on March 7, 2023, placing him on the Secret Service’s Most Wanted list.

The indictment also names Aleksandr Mira Serda, a 40-year-old Russian national residing in the UAE and a fellow co-founder of Garantex. Besides money laundering, Besciokov faces charges of conspiracy to violate sanctions and operate an unlicensed money transmitting business.

According to the CBI, he profited from laundering illicit proceeds from ransomware, hacking, and narcotics transactions. From 2021 to 2024, Garantex allegedly laundered millions derived from ransomware activities, including from notorious groups like Black Basta, Play, and Conti.

The U.S. Justice Department reported that Garantex has processed around $96 billion in cryptocurrency transactions since April 2019. Recently, international law enforcement agencies in collaboration with the U.S., Germany, and Finland seized Garantex’s domains and servers, freezing nearly $28 million in cryptocurrency linked to the exchange.

Garantex is known to have laundered funds for various criminal entities, including North Korea’s Lazarus Group, and has also evaded sanctions. TRM Labs remarked that the dismantling of Garantex represents a significant development in the fight against illicit finance but cautioned about the potential for sanctioned exchanges to evade restrictions by establishing new operations.

The arrest of Alexsej Besciokov marks a significant development in international attempts to combat cryptocurrency-related crime. His involvement with Garantex has drawn the attention of law enforcement worldwide, highlighting the platform’s role in extensive money laundering operations. The collaboration between various countries in addressing this issue showcases a growing commitment to enforcing financial regulations and countering illicit activities in the cryptocurrency domain.

Original Source: www.livemint.com