Alexsej Besciokov, a Lithuanian co-founder of the sanctioned cryptocurrency exchange Garantex, was arrested in India at the request of U.S. authorities. He faces serious charges, including money laundering, conspiracy to violate sanctions, and operating an unlicensed money transmitting business. His exchange was involved in laundering significant sums linked to cybercrime activities and was recently targeted by international law enforcement agencies.
Alexsej Besciokov, a 46-year-old Lithuanian national and co-founder of the cryptocurrency exchange Garantex, was apprehended by Kerala police at the request of the U.S. authorities. His arrest followed a provisional warrant issued via India’s foreign ministry while he was reportedly on vacation with his family. The reason for his presence in India remains unclear, yet speculation arose about his intention to flee the country.
Besciokov has been implicated in facilitating massive money laundering activities for global criminal organizations. Following an indictment unsealed by the U.S. Department of Justice on March 7, he found himself on the Secret Service’s Most Wanted list. Alongside him, Aleksandr Mira Serda, a 40-year-old Russian residing in the UAE and also a Garantex co-founder, has been named in the same indictment.
The charges against Besciokov extend beyond money laundering to include conspiracy to breach sanctions and to operate an unauthorized money transmitting business. The Central Bureau of Intelligence indicated that he profited from laundering the proceeds associated with ransomware attacks, computer hacks, and drug trafficking. Since Garantex’s inception in 2019, the platform has processed over $96 billion in cryptocurrency transactions.
In a recent coordinated effort, international law enforcement agencies seized Garantex’s domains and servers, freezing approximately $28 million tied to the exchange. Furthermore, reports suggest that Garantex was involved in laundering funds for various criminal entities, including North Korea’s Lazarus Group. Despite these actions, experts warn that sanctioned exchanges frequently evade restrictions by establishing new operational entities, undermining ongoing efforts against illicit finance.
Overall, Besciokov’s arrest signifies a significant international collaboration targeting the nexus of cryptocurrency and organized crime.
In conclusion, Alexsej Besciokov’s arrest underscores a concerted effort by international law enforcement to combat money laundering linked to cryptocurrency exchanges. His involvement with Garantex and the laundered funds associated with cybercriminal activities illustrate the challenges faced in regulating this rapidly evolving financial sector. The apprehension, combined with the seizure of Garantex’s assets, represents an important milestone in the fight against illicit financial activities and further emphasizes the need for rigorous oversight.
Original Source: www.livemint.com
