Indian Authorities Detain Crypto Exchange Administrator Linked to US Money Laundering Case

Besciokov's arrest comes after a US indictment accused him of laundering money for cybercriminals and violating sanctions, with Garantex reportedly handling over $96 billion in transactions linked to various crimes.

Indian authorities have apprehended Aleksej Besciokov, a cryptocurrency exchange administrator, who is sought by the United States for his alleged involvement in money laundering activities associated with cybercriminals. Besciokov, a Lithuanian national residing in Russia, was detained in Kerala on Tuesday following a provisional arrest warrant issued by India’s Central Bureau of Investigation (CBI) at the request of US officials.

The US Department of Justice (DOJ) stated that Besciokov played a pivotal role within Garantex, a Russian cryptocurrency exchange where he was responsible for reviewing and approving transactions. However, the exact circumstances of his arrival in India and the duration of his stay remain unclear. Following his arrest, Besciokov is currently in custody, and details regarding his extradition to the US are yet to be determined.

The DOJ’s recent indictment revealed that Garantex had processed at least $96 billion in cryptocurrency transactions since 2019, allegedly funneling hundreds of millions in criminal proceeds used to facilitate various illicit activities, including hacking, ransomware acts, terrorism, and drug trafficking. Last week, US authorities charged Besciokov alongside Garantex's Russian co-founder, Aleksandr Mira Serda, with money laundering, alleging that they attempted to redesign Garantex operations to evade sanctions imposed by the US Treasury Department in 2022, thereby encouraging American businesses to collaborate with them.

Details concerning the legal proceedings, as well as any potential extradition timeframe, remain uncertain following his arrest in India.