India Arrests Russia-Based Cryptocurrency Administrator Wanted by US

Aleksej Besciokov, a Lithuanian residing in Russia, was arrested in India for facilitating money laundering through Garantex, a Russian cryptocurrency exchange. The U.S. has charged him with various offenses, including violating sanctions and running an unlicensed money transmitting business.

Authorities in India have apprehended Aleksej Besciokov, a Lithuanian citizen and Russian resident, who is wanted in the United States for his alleged involvement in facilitating money laundering for cybercriminals. His arrest occurred in Kerala, as confirmed by India’s top investigative agency. Besciokov was identified by the U.S. Justice Department as one of the administrators of Garantex, a Russian cryptocurrency exchange responsible for overseeing transaction approvals.

Currently, Besciokov is in police custody, and details regarding his extradition to the U.S. remain unclear. The U.S. Department of Justice has issued an indictment claiming that he was residing in Russia before moving to India. At the request of Washington, India’s Central Bureau of Investigation issued a provisional arrest warrant for him.

Following the coordinated efforts of the United States with Germany and Finland, Garantex’s online infrastructure was dismantled. Since 2019, the exchange is reported to have handled over $96 billion in cryptocurrency transactions and allegedly channeled substantial amounts of criminal revenue to support various illegal activities, including terrorism and drug trafficking.

Besciokov, along with Garantex’s Russian co-founder Aleksandr Mira Serda, has been charged with money laundering. The U.S. Treasury Department imposed sanctions on Garantex in 2022, after which Besciokov and other officials purportedly altered the exchange’s operations to bypass such restrictions and attract American businesses.

The recent arrest of Aleksej Besciokov in India underlines the ongoing international efforts to combat cryptocurrency-related crime. His involvement in Garantex, which has processed significant sums tied to criminal enterprises, highlights the complexities of regulating such exchanges across borders. The collaboration between countries like the U.S., Germany, and Finland demonstrates a concerted approach to tackling financial crimes facilitated through cryptocurrency.

Original Source: www.bbc.com