Alexsej Besciokov, a 46-year-old Lithuanian national, was apprehended by Kerala police in India, according to a statement released by the Central Bureau of Intelligence (CBI) on Wednesday. Besciokov, who was vacationing with his family in Varkala, was reportedly planning to escape India when he was detained on Tuesday evening. The arrest followed a provisional warrant issued by India’s foreign ministry at the request of Washington, though the specific reasons for his presence in the country remain unclear.
Besciokov, a resident of Russia, is notably recognized as a co-founder of Garantex, a cryptocurrency exchange that faced sanctions by the U.S. government in 2022. The U.S. Department of Justice had previously unsealed an indictment against him on March 7, citing his involvement in money laundering activities. Authorities allege that Besciokov facilitated the laundering of billions of dollars for transnational criminal and cybercriminal organizations. Consequently, he now finds himself on the U.S. Secret Service’s Most Wanted list.
In addition to these allegations, Besciokov is also accused of conspiracy to violate sanctions and operating an unlicensed money transmitting business. According to the CBI statement, Besciokov’s operations profited from laundering gains from ransomware attacks, computer hacking incidents, and narcotics trade. From 2021 to 2024, Garantex is believed to have laundered millions in ransomware proceeds, notably from groups like Black Basta, Play, and Conti. Since April 2019, the exchange has reportedly processed at least $96 billion in cryptocurrency transactions.
In a coordinated effort, international law enforcement agencies from the U.S., Germany, and Finland recently targeted Garantex, seizing its domains and servers while freezing nearly $28 million in cryptocurrency linked to the exchange. Garantex has been accused of laundering money for notorious groups, including North Korea’s Lazarus Group, and evading international sanctions in the process. In light of these actions, a blockchain research firm, TRM Labs, noted that the takedown of Garantex marks a significant milestone in combating illicit finance, although it warned that sanctioned entities often try to circumvent restrictions by rebranding or creating new entities.
Besciokov’s alleged accomplice, Aleksandr Mira Serda, a 40-year-old Russian national residing in the United Arab Emirates, has also been indicted. Serda shares the status of co-founder of Garantex alongside Besciokov.
The arrest of Besciokov underscores the ongoing global crackdown on financial crimes facilitated through cryptocurrencies, highlighting the challenges and complexities of regulating digital financial systems. As this case unfolds, it keeps the international law enforcement community on high alert, further bridging the gap between digital innovation and regulatory prudence. With a heightened focus on compliance and transparency, the fight against money laundering and cybercrime remains a paramount concern for nations across the globe.
Original Source: https://www.livemint.com/news/who-is-alexsej-besciokov-crypto-kingpin-arrested-in-india-at-us-request-11741834137040.html
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Publish Date: 2025-03-13 09:41:00
