Aleksej Besciokov, a key operator of the sanctioned Garantex cryptocurrency exchange, was arrested in India facing charges for money laundering and operating without a license. His arrest follows a significant international law enforcement initiative that seized Garantex’s assets and froze millions in cryptocurrency linked to illicit activities.
Aleksej Besciokov, an operator of the sanctioned Russian cryptocurrency exchange Garantex, has been arrested in Kerala, India. He faces multiple charges, including money laundering conspiracy and operating an unlicensed money transmitting business. Besciokov’s arrest occurred during a family vacation, as reported by TechCrunch and KrebsOnSecurity.
The arrest follows a coordinated international law enforcement effort that seized Garantex’s servers and domains last week, freezing around $28 million in cryptocurrency linked to the exchange. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Garantex in 2022 for its facilitation of money laundering associated with ransomware groups and darknet markets, notably Hydra.
Garantex allegedly aided in the money laundering activities for criminal organizations including the Lazarus Group, which is tied to high-profile cybercrimes such as the Bybit $1.5 billion heist. The exchange has also been linked to services that aid in evading sanctions for affluent Russians.
In addition to Besciokov, U.S. prosecutors have charged another Garantex operator, Aleksandr Mira Serda, with similar charges. Besciokov is now on the U.S. Secret Service’s Most Wanted list. Reports from law enforcement regarding his arrest have not been confirmed by either the Kerala police or the U.S. Department of Justice.
In summary, Aleksej Besciokov’s arrest highlights the ongoing global efforts to combat financial crimes linked to cryptocurrency exchanges. Garantex’s connection to significant criminal activities has prompted international law enforcement operations, resulting in substantial seizures and sanctions. The case exemplifies the complexities of managing cryptocurrency regulation in a rapidly evolving financial landscape.
Original Source: www.coindesk.com
