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Indian authorities arrest alleged Garantex founder for US extradition

Indian authorities arrest alleged Garantex founder for US extradition

Grafa2025/03/13 15:10
By: Mahathir Bayena

Indian authorities have arrested Aleksej Bešciokov, a Lithuanian national and alleged co-founder of the cryptocurrency exchange Garantex, in the southern state of Kerala.

The arrest, carried out by the Central Bureau of Investigation (CBI) in coordination with Kerala police, occurred as Bešciokov was reportedly vacationing with his family and planning to leave the country.

The operation was conducted under India’s Extradition Act of 1962 following a request from the United States.

Bešciokov faces multiple charges in the U.S., including conspiracy to commit money laundering, operating an unlicensed money-transmitting business, and violating the International Emergency Economic Powers Act.

These charges stem from his alleged role in facilitating illicit financial activities through Garantex, including laundering proceeds from ransomware attacks, narcotics transactions, and sanctions violations.

U.S. prosecutors claim that Garantex processed over $96 billion in cryptocurrency transactions since 2019, despite being sanctioned by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) in 2022.

International law enforcement agencies, including those from Germany and Finland, have also been involved in actions against Garantex.

Recently, U.S. authorities seized three domain names associated with the exchange and froze $27 million worth of assets on the platform with assistance from Tether (CRYPTO:USDT).

The exchange had previously been linked to facilitating financial flows for ransomware groups like Conti and Black Basta, as well as North Korea’s Lazarus Group.

Bešciokov is expected to be transferred to U.S. custody following legal proceedings in India.

His arrest underscores growing international cooperation in tackling crypto-related crimes.

Meanwhile, Aleksandr Mira Serda, another Garantex co-founder and a Russian national also charged in the case, remains at large.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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