Crypto kingpin Alexsej Besciokov, wanted in the US, arrested in India for money laundering and sanctions violations

CBI and Kerala Police nab Lithuanian national wanted by US authorities

Alexsej Besciokov, a Lithuanian national and co-founder of the sanctioned cryptocurrency exchange Garantex, has been arrested in India in a joint operation by the Central Bureau of Investigation (CBI) and Kerala Police.

The 46-year-old was taken into custody on Tuesday evening in Varkala, Kerala, while on vacation with his family. Authorities confirmed that he was planning to flee India when apprehended.

The CBI stated that India’s Foreign Ministry issued a provisional arrest warrant for Besciokov at the request of Washington.

Who is Alexsej Besciokov?

• Besciokov is a Russian resident and co-founder of Garantex, a cryptocurrency exchange sanctioned by the US government in 2022.
• He is accused of facilitating billions of dollars in money laundering for transnational criminal and cybercriminal organizations.
• He has been indicted by the US Department of Justice (DOJ) on March 7, 2024, and is currently on the US Secret Service’s Most Wanted list.
• His co-founder, Aleksandr Mira Serda (40), a Russian national residing in the UAE, has also been named in the indictment.

Allegations against Besciokov

Besciokov faces charges of:

• Money laundering
• Conspiracy to violate US sanctions
• Operating an unlicensed money transmitting business

Authorities allege that between 2021 and 2024, Garantex laundered millions of US dollars from ransomware proceeds, including money linked to:

• Black Basta ransomware group
• Play ransomware group
• Conti ransomware group

The CBI revealed that Besciokov profited from laundering illicit funds from ransomware, computer hacking, and narcotics transactions.

Global crackdown on Garantex

Last week, a coalition of law enforcement agencies from the US, Germany, and Finland:

• Seized Garantex’s domains and servers
• Frozen nearly $28 million in cryptocurrency tied to the exchange

Garantex has been accused of laundering money for criminal groups, including North Korea’s notorious Lazarus Group.

Crypto laundering and future risks

Blockchain research firm TRM Labs described the seizure of Garantex as a “major milestone in the fight against illicit finance.” However, experts warn that sanctioned exchanges often attempt to evade restrictions by creating new entities and platforms.

Besciokov’s arrest in India

Kerala DIG of Police, S Ajeetha Begum, confirmed that Besciokov, his wife, two daughters, and another individual had been staying in Varkala, near Thiruvananthapuram. Their presence in India remains unexplained, raising questions about their international movements.

With US authorities actively pursuing him, Besciokov is likely to face extradition proceedings in the coming weeks. His arrest highlights global efforts to combat crypto-financed cybercrime and illicit financial networks.

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