In a significant development, the Central Bureau of Investigation (CBI), in collaboration with the Kerala Police, has arrested Aleksej Besciokov, a Lithuanian national and the founder of the cryptocurrency exchange Garantex. Besciokov was wanted in the United States for his involvement in a large-scale money laundering operation. Garantex allegedly facilitated over $96 billion in illicit cryptocurrency transactions, enabling criminal organizations, including terrorist groups, to launder money from activities such as ransomware attacks, drug trafficking, and hacking.

Garantex's Role in Criminal Activities

According to US Secret Service documents, Besciokov allegedly controlled and operated Garantex since 2019, which was used to launder the proceeds of various criminal activities. The exchange reportedly received hundreds of millions of dollars in criminal proceeds, contributing to substantial financial damage to US victims. Besciokov's primary role involved managing the critical infrastructure of the platform, including reviewing and approving transactions. The indictment, as detailed by US authorities, includes charges of conspiracy to commit money laundering and violating the International Economic Emergency Powers Act. Both charges carry a maximum sentence of 20 years in prison. Besciokov is also facing charges related to operating an unlicensed money-transmitting business, which could result in a sentence of up to five years in prison.

The Arrest and Extradition Process

On March 10, 2025, following a request from the United States, the Ministry of External Affairs (MEA), under the Extradition Act, 1962, facilitated the issuance of a provisional arrest warrant against Besciokov. The CBI and Kerala Police coordinated the arrest, and he was taken into custody after allegedly attempting to escape the country. Besciokov will be produced before the Patiala House Court in Delhi, where the CBI will work on the extradition process to the United States, where he faces trial before the District Court for the Eastern District of Virginia.

US Seizure and Action Against Garantex

This arrest follows significant action taken by US authorities earlier in the month. On March 6, 2025, the US Secret Service executed a seizure order against three websites associated with Garantex, preventing them from further facilitating money laundering and illegal activities. Additionally, US authorities froze over USD 26 million as part of this operation.

This arrest marks a critical step in the international fight against cryptocurrency-related crime and money laundering, sending a strong message about the accountability of those operating illicit platforms. The CBI and Kerala Police have proven instrumental in bringing a high-profile fugitive to justice, highlighting the importance of international cooperation in the fight against organized crime and financial fraud.

Conclusion

The arrest of Aleksej Besciokov signifies a major victory in the global battle against cryptocurrency crime. With the support of US authorities, CBI, and Kerala Police, justice is being pursued for the victims of the crimes facilitated by the Garantex exchange. As Besciokov faces the full weight of the law, this case serves as a reminder of the need for continuous oversight and regulation in the ever-expanding world of cryptocurrencies and digital financial transactions.

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