Crypto Exchange Admin Arrested in India for Money Laundering

Aleksej Besciokov, a 46-year-old Lithuanian national and Russian resident, has been arrested in the southern Indian state of Kerala. Besciokov, who is an administrator of the cryptocurrency exchange Garantex, was taken into custody by Indian authorities while vacationing with his family. The arrest was made at the request of the United States, which has charged Besciokov with money laundering and other related offenses.

Besciokov operated Garantex between 2019 and 2025, using the aliases “proforg” and “iram.” He collaborated with co-founder Aleksandr Mira Serda, a Russian national and resident of the United Arab Emirates. The exchange has been accused of facilitating transactions for criminal entities, including ransomware groups and sanctioned Russian oligarchs.

Last week, law enforcement from multiple countries, including Germany and Finland, seized Garantex servers and froze around $28 million in crypto. The U.S. Office of Foreign Asset Control (OFAC) had previously sanctioned Garantex in 2022 for money laundering related to ransomware hacks, including Conti, Hydra, and Black Basta.

According to the indictment, Besciokov was the primary administrator of Garantex, while Mira Serda was in charge of operations, particularly those involving commercial and marketing interests. They provided false information to Russian authorities and concealed information about their activities.

American authorities were able to access historical backups of Garantex servers, obtaining customer information and accounting data. This helped authorities locate significant amounts of laundered money, amounting to $26 million, and with the help of Tether, froze the accounts.

Besciokov's arrest is a significant development in the U.S.'s efforts to crack down on cryptocurrency-related crimes. The U.S. is expected to seek Besciokov's extradition to face charges in the United States. The extradition process can be complex and time-consuming, but the U.S. has a strong track record of successfully extraditing individuals from other countries to face charges in the United States.

The arrest of Besciokov also highlights the growing concern over the use of cryptocurrencies for illicit activities. Cryptocurrencies have become increasingly popular in recent years, but their decentralized nature makes them attractive to criminals who seek to use them for money laundering, fraud, and other illegal activities. Law enforcement agencies around the world are working to develop new tools and techniques to combat these crimes, and the arrest of Besciokov is a significant step in that direction.

The arrest of Besciokov is also a reminder of the importance of international cooperation in combating financial crimes. The U.S. and India have a long history of cooperation on law enforcement matters, and this case is a clear example of how the two countries can work together to bring criminals to justice. The arrest of Besciokov was the result of close coordination between U.S. and Indian law enforcement agencies, and it is a testament to the strength of the relationship between the two countries.

In conclusion, the arrest of Aleksej Besciokov is a significant development in the ongoing effort to combat cryptocurrency-related crimes. The U.S. is expected to seek his extradition to face charges in the United States, and the arrest highlights the importance of international cooperation in combating financial crimes. The case also serves as a reminder of the growing concern over the use of cryptocurrencies for illicit activities, and the need for law enforcement agencies to develop new tools and techniques to combat these crimes.