A joint operation by the Central Bureau of Investigation (CBI) and Kerala Police has led to the arrest of Alexsej Besciokov, a Lithuanian national wanted for his alleged role in laundering billions of dollars through a US-sanctioned cryptocurrency exchange.
The 46-year-old, co-founder of the Russian-based crypto exchange Garantex, was taken into custody while vacationing with his family in Varkala, Kerala. Authorities say he was attempting to flee India at the time of his arrest.
Who is Alexsej Besciokov?
Besciokov is a key figure in Garantex, an exchange that was blacklisted by the US government in 2022 for allegedly facilitating illicit financial transactions, including ransomware payments and cybercriminal activities. His arrest follows an international crackdown on crypto-related money laundering, with the US Department of Justice recently unsealing an indictment against him.
The charges against Besciokov include:
- Money laundering
- Operating an unlicensed money-transmitting business
- Conspiring to violate sanctions
According to US authorities, between 2021 and 2024, Garantex processed millions of dollars for ransomware groups like Black Basta, Play, and Conti. Investigators also claim the exchange facilitated transactions worth over $96 billion since 2019, some of which were linked to North Korea’s notorious Lazarus Group.
The Global Crackdown on Garantex
Besciokov’s arrest comes just days after an international law enforcement operation took down Garantex’s domains and servers, freezing nearly $28 million in assets tied to the platform. The US, Germany, and Finland coordinated efforts to disrupt the exchange’s operations, dealing a significant blow to illicit crypto networks.
However, experts warn that sanctioned exchanges often attempt to rebrand under new names to continue their operations.
Why Was Besciokov in India?
It remains unclear why Besciokov chose to visit India amid an active international manhunt. He was staying in Varkala, near Thiruvananthapuram, with his wife, two daughters, and an unidentified companion, according to Kerala’s Deputy Inspector General of Police, S. Ajeetha Begum.
Following a request from the US government, India’s Ministry of External Affairs issued a provisional arrest warrant against him. The next steps in his extradition process remain uncertain, but his capture marks a major development in the fight against crypto-related financial crimes.
This high-profile arrest underscores the growing global effort to crack down on illicit cryptocurrency operations and their role in money laundering and cybercrime.
