Indian authorities have arrested the founder of Russian cryptocurrency exchange Garantex, Aleksej Besciokov, in the South Indian state of Kerala.
Besciokov has been arrested for facilitating money laundering by transnational criminal organizations, including terrorist organizations, and sanctions violations.
“Since April 2019, Garantex processed at least $96 billion in cryptocurrency transactions,” US Secret Service said.
India’s Central Bureau of Investigation (CBI) issued a statement after the arrest on 12 March 2025, saying that Besciokov has been wanted in the US for facing trial in the US District Court for the Eastern District Court of Virginia.
In a coordinated action with CBI, Kerala Police arrests wanted criminal of USA from Thiruvananthapuram pic.twitter.com/bVJZr1YEg2
— Central Bureau of Investigation (India) (@CBIHeadquarters) March 12, 2025
According to a CNN report dated 12 March 2025, the arrest caps an intense US-led manhunt for Besciokov, that escalated last week with the seizure of the crypto exchange, the freezing of $26 million in assets and the unsealing of an indictment against Besciokov and an alleged accomplice.
“I can confirm Aleksej Besciokov, one of the administrators of Garantex, was arrested in India at the request of the United States,” US Justice Department spokesperson Nicole Navas Oxman told CNN.
On 6 March 2025, the Secret Service seized three website domain names used to support Garantex’s operations.
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Held On Charges Of Hacking, Ransomware, Terrorism And Drug Trafficking
Alexey Beschekov – co-founder of Garantex, a crypto exchange that laundered $60B!
He was arrested in India at the U.S.’s request for money laundering and sanctions violations.
He faces 5–20 years in prison. Garantex’s secrets will shock you. 🧵👇 pic.twitter.com/oPxffq5AUs
— FinChain (@Defi_FinChain) March 12, 2025
Garantex has been on the radar of international regulatory authorities for some time. The exchange was blacklisted by the US Treasury’s Office of Foreign Assets Control (OFAC) in April 2022. Garantex has a record of being under scrutiny for alleged ties to illicit financial activities.
According to US authorities, between 2019 and 2025, Russian national Aleksandr Mira Serda and Lithuanian national Besciokov controlled and operated Garantex.
Mira Serda was Garantex’s co-founder and Chief Commercial Officer. Besciokov was Garantex’s primary technical administrator and responsible for obtaining and maintaining critical Garantex infrastructure, as well as reviewing and approving transactions.
“Garantex received hundreds of millions in criminal proceeds and was used to facilitate various crimes, including hacking, ransomware, terrorism, and drug trafficking, often with substantial impact to US victims,” the report said.
However, Besciokov had been living in Russia, according to the Justice Department. It is unclear why Besciokov traveled to India. The CBI added that Besciokov was planning to flee India as well.
EXPLORE: EU Adds Russian Crypto Exchange Garantex To Its Sanctions List
EU Adds Russian Crypto Exchange Garantex To Its Sanctions List
The European Union (EU) has added the Russia-based cryptocurrency exchange, Garantex, to its sixteenth sanctions package.
Announced on 24 February 2025, the press release from the European Council said, “For the first time, the Council also decided to sanction, a crypto-currency exchange based in Russia, Garantex, which is closely associated with EU-sanctioned Russian banks.”
According the council, the sixteenth sanctions package “continues targeting actors responsible for circumventing EU sanctions, including through third countries.”
“Sanctions will also be imposed on third countries actors directly supporting the Russian war effort,” the EU added.
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Key Takeaways
- Garantex is a cryptocurrency exchange that has been on the radar of international regulatory authorities for some time.
- The platform has allegedly been involved in facilitating transactions that enabled money laundering activities, drawing attention from law enforcement agencies worldwide.
