Lithuanian Crypto Kingpin Alexsej Besciokov Arrested in India on US Request

Overview of the Arrest

Alexsej Besciokov, a 46-year-old Lithuanian national and co-founder of the cryptocurrency exchange Garantex, was apprehended in Thiruvananthapuram, Kerala, on Tuesday evening. His arrest was the result of a collaborative operation involving the Central Bureau of Investigation (CBI) and the Kerala police, following a request from U.S. authorities.

Besciokov was reportedly on vacation with his family when he was arrested at Varkala, as he was allegedly planning to flee the country. The CBI confirmed that his arrest was part of an ongoing investigation into various financial crimes linked to Garantex.

Background on Alexsej Besciokov

Besciokov has been identified as a prominent figure in the cryptocurrency realm, primarily through his role at Garantex, an exchange sanctioned by the U.S. Department of the Treasury in 2022 for its involvement in facilitating money laundering activities. His connections extend to Russia, as he is also a resident of that country.

In a significant development on March 7, 2025, the U.S. Department of Justice unsealed an indictment against him. The indictment outlines allegations of money laundering involving billions of dollars and conspiracy related to operating an unlicensed money transmitting business. Besciokov is currently listed among the U.S. Secret Service’s Most Wanted, indicating the severity of the charges against him.

Legal Charges and Allegations

According to the CBI, Besciokov faces multiple charges, including money laundering, conspiracy to violate economic sanctions, and conspiracy to operate an unlicensed business. These charges stem from his alleged facilitation of money laundering for various cybercriminal organizations and transnational crime groups.

Between 2021 and 2024, Garantex is reported to have laundered substantial amounts of money from ransomware operations, notably including criminal groups such as Black Basta, Play, and Conti. It has been estimated that the exchange processed approximately $96 billion in cryptocurrency transactions since its inception in April 2019, with a significant portion linked to illicit activities.

International Actions Against Garantex

The recent arrest of Besciokov follows the seizure of Garantex’s domains and servers by a coalition of international law enforcement agencies from the United States, Germany, and Finland. This action included freezing nearly $28 million in cryptocurrency associated with the platform. Garantex has been implicated in laundering money for highly sophisticated criminal entities, including North Korea’s Lazarus Group, which is notorious for hacking and cybercrime.

Blockchain research firm TRM Labs characterized the takedown of Garantex as a key achievement in the fight against illicit finance, underscoring the continuous efforts to combat the misuse of cryptocurrency platforms for unlawful activities.

Current Status

As Besciokov remains in custody pending further legal proceedings, his case highlights the increasing global scrutiny of cryptocurrency exchanges and their potential misuse for money laundering and other illegal practices. The collaboration between international law enforcement agencies signifies a strengthened resolve to address cryptocurrency-related crimes effectively.

Besciokov’s arrest not only illustrates the complex intersection of technology and crime but also raises questions about the future of regulation and enforcement in the rapidly evolving cryptocurrency landscape.

For further updates on this developing story, stay tuned to our news platform.