Alexsej Besciokov: Lithuanian Crypto Kingpin Arrested in Kerala

International International News

Posted by NewAdmin on 2025-03-13 09:23:05 |

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Alexsej Besciokov, a Lithuanian national and co-founder of the cryptocurrency exchange Garantex, was arrested in Kerala by the Central Bureau of Investigation (CBI) and local police. His arrest followed a request from US authorities due to his alleged involvement in large-scale money laundering activities linked to cybercriminal organizations. Besciokov, who had been residing in Russia, was vacationing in Varkala with his family when he was taken into custody while allegedly attempting to flee India.

Besciokov is accused of playing a key role in laundering billions of dollars through Garantex, which was sanctioned by the US government in 2022. The US Department of Justice unsealed an indictment against him on March 7, charging him with money laundering, conspiracy to violate sanctions, and operating an unlicensed money-transmitting business. Authorities allege that between 2021 and 2024, Garantex processed illicit funds for ransomware groups such as Black Basta, Play, and Conti. The exchange reportedly facilitated at least $96 billion in cryptocurrency transactions since its launch in 2019, a significant portion of which was tied to criminal enterprises.

Alongside Besciokov, another co-founder, Aleksandr Mira Serda, a Russian national based in the UAE, was also named in the indictment. Garantex has been accused of laundering money for various entities, including North Korea’s Lazarus Group, and helping criminals evade international sanctions. 

In a coordinated effort, law enforcement agencies from the US, Germany, and Finland recently took action against Garantex, seizing its domains and servers while freezing approximately $28 million in cryptocurrency. Despite these measures, experts warn that sanctioned exchanges often attempt to rebrand and continue their operations under new names. Kerala's DIG of Police, S Ajeetha Begum, confirmed that Besciokov was staying in Varkala with his wife, two daughters, and an unidentified person. His arrest marks a major development in the global crackdown on illicit cryptocurrency transactions and cybercrime.

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