Aleksej Besciokov, a cryptocurrency exchange administrator linked to Garantex, was arrested in India on a US warrant for money laundering and sanction violations. The DOJ alleges Garantex processed $96 billion in transactions, facilitating various crimes. Following his arrest in Kerala, the timeline for his extradition remains unclear.
The Indian authorities have apprehended a cryptocurrency exchange administrator, Aleksej Besciokov, who is wanted by the United States for allegedly facilitating money laundering for cybercriminals and circumventing sanctions. This arrest occurred in Kerala, a southern state in India, as announced by the nation’s top investigative agency.
Aleksej Besciokov, a Lithuanian citizen who resides in Russia, was reportedly an administrator of Garantex, a Russian cryptocurrency exchange, responsible for managing transaction approvals. Following a provisional arrest warrant issued by India at the request of the US, he is currently in custody awaiting court proceedings in Delhi, though the timeline for his extradition remains uncertain.
The US Justice Department disclosed that Garantex processed approximately $96 billion in cryptocurrency transactions since 2019, allegedly facilitating various crimes including hacking, ransomware, and drug trafficking. The DOJ accused Besciokov of violating sanctions and operating without a license.
US officials, alongside Germany and Finland, had previously dismantled Garantex’s online infrastructure. Besciokov, alongside co-founder Aleksandr Mira Serda, was charged last week with money laundering. The US Treasury Department initially sanctioned Garantex in 2022, but the administrators later attempted to restructure their operations to evade such sanctions and attract American businesses.
The arrest of Aleksej Besciokov marks a significant action by Indian authorities in collaboration with the US to combat financial crimes associated with cryptocurrency. This case highlights the extensive operations of Garantex in illicit activities and the global effort to impose sanctions on organizations that facilitate cybercrime. The outcome of Besciokov’s extradition to the US will further illuminate the complexities surrounding cryptocurrency regulation and enforcement.
Original Source: www.bbc.com
