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Indian Authorities Arrest Co-Founder of Sanctioned Crypto Exchange Garantex
Aleksej Besciokov, a 46-year-old individual, was arrested in Thiruvananthapurum, India, after a request from American authorities.
The Indian authorities, specifically the Central Bureau of Investigation (CBI), announced the arrest of Aleksej Besciokov, the co-founder of the sanctioned crypto exchange Garantex. The CBI stated that Besciokov was planning to flee the country and was arrested following a request from American authorities.
Background on Garantex
Garantex is a Russian crypto exchange that has been accused of having ties to sanctioned banks and criminal groups. The exchange was sanctioned by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), the Federal Bureau of Investigation (FBI), and the German police in 2022.
US Sanctions and Lawsuits
In 2022, the US authorities seized and shut down Garantex’s website. The US Department of Justice (DOJ) also launched an investigation into the exchange’s alleged money laundering activities.
Recent Developments
On March 7, 2025, a grand jury indicted Besciokov and his co-defendants for allegedly laundering stolen funds through Garantex. The indictment alleges that Besciokov and his co-defendants knew that criminal proceeds were being laundered through the exchange, but continued to turn a blind eye.
The indictment also alleges that Besciokov knew that the Lazarus Group, a North Korea-sponsored hacking group, used his exchange to obfuscate stolen funds.
Conclusion
The arrest of Aleksej Besciokov marks a significant milestone in the ongoing efforts to combat money laundering and terrorist financing in the crypto space. The US authorities’ relentless pursuit of those involved in illegal activities is a testament to their commitment to maintaining the integrity of the global financial system.
FAQs
- What is Garantex? Garantex is a Russian crypto exchange that has been accused of having ties to sanctioned banks and criminal groups.
- Why was Garantex sanctioned? Garantex was sanctioned by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), the Federal Bureau of Investigation (FBI), and the German police in 2022 for allegedly laundering stolen funds.
- Who is Aleksej Besciokov? Aleksej Besciokov is the co-founder of Garantex and was arrested in Thiruvananthapurum, India, after a request from American authorities.
- What are the charges against Besciokov? Besciokov is facing charges of money laundering and conspiracy to launder stolen funds through Garantex.
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