Who is Alexsej Besciokov, Lithuanian crypto kingpin arrested in Kerala?

Alexsej Besciokov faces multiple charges, including money laundering, conspiracy to violate sanctions, and operating an unlicensed money-transmitting business

Alexsej Besciokov, a Lithuanian citizen wanted in connection with criminal activities and money laundering tied to a US-based cryptocurrency exchange, was arrested in a joint operation by the Central Bureau of Investigation (CBI) and Kerala Police.

 

The 46-year-old was vacationing with his family when he was taken into custody by Varkala police on Tuesday evening. According to the CBI, Besciokov was attempting to flee India at the time of his arrest. However, the reasons for his presence in the country remain unclear.  

 

Following a request from US authorities, India's Ministry of External Affairs issued a provisional arrest warrant against Besciokov, the CBI said.  

 

Who is Alexsej Besciokov?

 

Originally from Lithuania but residing in Russia, Besciokov is one of the co-founders of Garantex, a cryptocurrency exchange sanctioned by the US government in 2022. Authorities allege that he played a key role in laundering billions of dollars for transnational criminal and cybercriminal organisations.

 

On March 7, the US Department of Justice unsealed an indictment against him, and he is currently listed on the US Secret Service's Most Wanted list.  

 

The indictment also names Aleksandr Mira Serda, a 40-year-old Russian national based in the United Arab Emirates, who is also a co-founder of Garantex.  

 

Charges against Besciokov

 

Besciokov faces multiple charges, including money laundering, conspiracy to violate sanctions, and operating an unlicensed money-transmitting business. The CBI said that he profited from laundering proceeds linked to ransomware attacks, cybercrimes, and drug trafficking. Between 2021 and 2024, Garantex reportedly processed millions of dollars generated by ransomware groups such as Black Basta, Play, and Conti.  

 

According to the US Justice Department, the exchange has facilitated cryptocurrency transactions worth at least $96 billion since April 2019.  

 

Crackdown on Garantex  

 

Last week, international law enforcement agencies from the US, Germany, and Finland took action against Garantex, seizing its domains and servers while freezing nearly $28 million in cryptocurrency linked to the exchange.  

 

Reports indicate that Garantex has laundered money for various criminal entities, including North Korea’s infamous Lazarus Group, and has also been involved in evading sanctions.  

 

Blockchain analysis firm TRM Labs highlighted in a recent blog post that shutting down Garantex represents a significant step in combating illicit financial activities. However, the firm warned that sanctioned exchanges often try to bypass restrictions by rebranding under new identities.

 

Meanwhile, Kerala's DIG of Police, S Ajeetha Begum, confirmed that Besciokov was staying in Varkala, near Thiruvananthapuram, along with his wife, two daughters, and an unidentified individual, as reported by Onmanorama.  

 

(With agency inputs)