India has arrested Aleksej Besciokov, a crypto exchange administrator linked to Russia, at the request of the U.S. for facilitating money laundering and violating sanctions. He is connected to Garantex, which processed vast sums in cryptocurrency linked to criminal activities. His extradition to the U.S. remains uncertain as the legal proceedings commence.
In a significant development, Indian authorities have apprehended Aleksej Besciokov, a cryptocurrency exchange administrator linked to Russia, who is wanted by the United States for allegations of assisting cybercriminals in money laundering and sanction violations. The arrest occurred in Kerala, as reported by India’s primary investigative agency.
Besciokov, a Lithuanian citizen residing in Russia, was associated with Garantex, a Russian cryptocurrency platform, where he had critical responsibilities regarding the approval of transactions. His current custody status remains unremarked, and Garantex has not yet provided a commentary on the matter.
The United States Department of Justice (DOJ) highlighted that Besciokov had been living in Russia prior to the indictment, with unclear details on his arrival in India. India’s Central Bureau of Investigation (CBI) confirmed that they executed a provisional arrest warrant at the request of the U.S. government, with plans to present him in a Delhi court, although it remains uncertain when extradition to the U.S. will occur.
Recent actions taken by the United States, in collaboration with Germany and Finland, resulted in the dismantling of the online operations of Garantex. According to the DOJ, Garantex was involved in handling cryptocurrency transactions worth approximately $96 billion since 2019 and allegedly received substantial amounts from criminal activities, contributing to various illicit activities including hacking and drug trafficking.
Furthermore, Besciokov has been charged with sanctions violations and running an unlicensed money transmission business, alongside Garantex’s co-founder, Aleksandr Mira Serda. The U.S. Treasury Department had imposed sanctions on Garantex in 2022, but shortly thereafter, it is reported that the administrators modified operations to bypass these sanctions and entice American businesses into collaboration.
The arrest of Aleksej Besciokov in India reflects a coordinated international effort to combat cybercrime and enhance regulatory compliance in cryptocurrency operations. As the case unfolds, it emphasizes the serious implications of cryptocurrency misuse for facilitating criminal enterprises.
Original Source: www.bbc.com
