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Authorities have arrested a Lithuanian national, Aleksej Besciokov, who is wanted by the United States for allegedly operating a massive cryptocurrency exchange linked to illicit financial activities. The exchange, Garantex, reportedly handled $96 billion in transactions and was allegedly used by cybercriminals, drug traffickers, and terrorist organisations to launder money.
Crypto Crackdown: How US And India Tracked Down The Elusive Fugitive
The arrest, carried out in the southern state of Kerala, follows an extensive US-led investigation into Besciokov’s activities. Just last week, US authorities seized control of Garantex, froze approximately $26 million in assets, and unsealed an indictment against Besciokov and an alleged accomplice, Russian national Aleksandr Mira Serda. The Justice Department has accused them of facilitating large-scale money laundering operations through the crypto exchange.
In a coordinated action with CBI, Kerala Police arrests wanted criminal of USA from Thiruvananthapuram /bVJZr1YEg2
— Central Bureau of Investigation (India) (@CBIHeadquarters) March 12, 2025
“The US has formally requested Besciokov’s arrest, and we expect extradition proceedings to follow,” said Nicole Navas Oxman, a spokesperson for the US Justice Department, as reported by CNN. She confirmed his detention in India but refrained from providing additional details.
$96 Billion Trail: The Dark Web Of Garantex & Its Global Ties
While Besciokov had been residing in Russia prior to his arrest, it remains unclear why he traveled to India. The Central Bureau of Investigation (CBI), which referred to him as a “fugitive,” is now coordinating with US authorities regarding the next steps in the legal process.
Garantex, which was sanctioned by the US Treasury Department in 2022, continued its operations by allegedly restructuring its platform to circumvent restrictions and deceive American firms into engaging with it.
According to the indictment, Besciokov played a critical role in maintaining the exchange’s infrastructure, while Mira Serda functioned as its co-founder and chief commercial officer.
What’s Next? The Extradition Battle & US Plans For Prosecution
The case is seen as a significant breakthrough in the global crackdown on cryptocurrency-based financial crimes. With the US prioritising the arrest and prosecution of individuals behind illegal money laundering networks, Besciokov’s detention underscores the growing international cooperation in tackling financial crimes tied to the digital economy.
US authorities are now working to bring him to trial in the Eastern District of Virginia, a key jurisdiction in cases involving international financial crimes and cyber-related offenses.
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