Indian Authorities Arrest Co-Founder of Sanctioned Crypto Exchange Garantex
Indian authorities have arrested Aleksej Besciokov, the alleged co-founder of Garantex, a crypto exchange sanctioned by the U.S. government. Besciokov, who was vacationing in India with his family, will appear in court on March 14. This arrest follows a series of international investigations and seizures involving multiple agencies.
Garantex, a crypto exchange, has been under scrutiny for facilitating money laundering and sanctions evasion. The U.S. Treasury first sanctioned Garantex in 2022. Since then, the exchange has processed over $60 billion in crypto transactions, according to blockchain analysis company Elliptic. Besciokov, the primary technical administrator, is now facing charges in India. German and Finnish law enforcement have seized Garantex's servers, and U.S. authorities have frozen over $26 million in crypto funds. The U.S. Department of Justice has unsealed an indictment against Besciokov and another alleged co-founder, Aleksandr Mira Serda. Authorities in Russia, India, and the U.S. are collaborating in the ongoing investigations, involving agencies such as the FSB, ED, and FBI.
Aleksej Besciokov's arrest marks a significant step in the international effort to dismantle Garantex's alleged crypto money laundering operations. With multiple agencies involved and evidence of billions in crypto transactions, the case highlights the global reach and impact of cryptocurrency-related crimes. Besciokov's court appearance on March 14 will provide further insights into the proceedings.
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