Indian authorities have arrested a cryptocurrency administrator with ties to Russia, wanted by the US for his involvement in a major money laundering scheme.
India Detains Crypto Administrator Linked to Russian Sanctions Evasion Wanted by US
India Detains Crypto Administrator Linked to Russian Sanctions Evasion Wanted by US
Aleksej Besciokov faces extradition for alleged money laundering and cybercrime activities.
Authorities in India have apprehended a cryptocurrency exchange administrator linked to Russia who is wanted by the United States for allegedly aiding cybercriminals in laundering money and breaching sanctions. Aleksej Besciokov, a Lithuanian national residing in Russia, was taken into custody on Tuesday in Kerala, as confirmed by India's top investigative agency.
The US Justice Department (DOJ) claims Besciokov played a crucial role as an administrator for Garantex, a Russian-based cryptocurrency exchange, overseeing the approval and review of the exchange’s transactions. Currently detained, Besciokov has not yet made a public statement regarding the charges against him. Garantex has not responded to requests for comment.
The DOE’s indictment states that Besciokov was based in Russia prior to his arrest, with no clear indication as to his arrival in India. In accordance with a request from Washington, India's Central Bureau of Investigation (CBI) issued a provisional arrest warrant for him. Besciokov is scheduled to appear in a Delhi court, although the timeline for his potential extradition to the US remains uncertain.
Recent statements from the DOJ indicate that the United States, in collaboration with Germany and Finland, successfully dismantled the digital framework utilized by Garantex. This exchange allegedly facilitated the movement of around $96 billion in cryptocurrency transactions since 2019 and was reportedly involved in processing hundreds of millions of dollars in criminal proceeds linked to various illicit activities, including hacking, ransomware, terrorism, and drug trafficking.
Additionally, the DOJ has accused Besciokov of operating an "unlicensed money transmitting business" and violating sanctions. Last week, US officials charged him along with Garantex's Russian co-founder, Aleksandr Mira Serda, with severe money laundering offenses. Following the sanctions imposed on Garantex by the US Treasury Department in 2022, the exchange's administrators allegedly restructured its operations to circumvent these restrictions and attract American businesses.
