Indian authorities confirmed the arrest of Garantex co-founder Aleksej Besciokov, a Lithuanian national wanted by the US for allegedly laundering billions through the crypto exchange.
Police apprehended Besciokov in Kerala’s coastal town of Varkala while he was vacationing with his family. Besciokov is accused of operating an unlicensed money-transmitting business and conspiring to commit money laundering.
The arrest comes less than a week after US and European authorities seized Garantex and its online operations in a crackdown on its alleged money laundering activities.
US authorities claim Besciokov played a key role in the Moscow-based exchange, which was sanctioned by the US Treasury in 2022 for allegedly processing illicit transactions linked to ransomware, drug trafficking, and cybercrime.
Prosecutors claim the platform facilitated financial transactions for Russian criminal organizations, including groups responsible for hacking and extortion schemes targeting American businesses and institutions.
The arrest followed a provisional warrant issued by the Additional Chief Judicial Magistrate of Patiala House Court in New Delhi. The Central Bureau of Investigation (CBI) and Kerala Police coordinated efforts, acting on an Interpol Red Notice issued at the request of US authorities.
B. Gopakumar, deputy superintendent of police in Varkala, said:
“The accused was traced based on intelligence received from Interpol and international law enforcement agencies. He will be remanded for two days in Kerala before being transferred to Delhi for extradition proceedings.”
Besciokov’s arrest is part of a broader global crackdown on crypto-linked financial crimes. On March 7, the US Department of Justice unsealed an indictment against him and his associate, Aleksandr Mira Serda, charging them with money laundering, conspiracy to violate US sanctions, and operating an unlicensed financial entity.
Serda remains at large, and law enforcement agencies are tracking his whereabouts. Meanwhile, Besciokov is expected to be extradited to the US following legal proceedings in India.
Authorities allege that from 2019 to 2025, Garantex handled hundreds of millions of dollars in illicit transactions, including ransomware payments from groups such as Conti, Black Basta, and Play.
The US Treasury’s Office of Foreign Assets Control (OFAC) designated Garantex a high-risk entity, effectively removing it from the global financial system.
