Indian authorities have arrested the founding father of Russian cryptocurrency alternate Garantex, Aleksej Besciokov, within the South Indian state of Kerala.
Besciokov has been arrested for facilitating cash laundering by transnational felony organizations, together with terrorist organizations, and sanctions violations.
“Since April 2019, Garantex processed a minimum of $96 billion in cryptocurrency transactions,” US Secret Service stated.
India’s Central Bureau of Investigation (CBI) issued an announcement after the arrest on 12 March 2025, saying that Besciokov has been needed within the US for going through trial within the US District Courtroom for the Jap District Courtroom of Virginia.
In a coordinated motion with CBI, Kerala Police arrests needed felony of USA from Thiruvananthapuram pic.twitter.com/bVJZr1YEg2
— Central Bureau of Investigation (India) (@CBIHeadquarters) March 12, 2025
In response to a CNN report dated 12 March 2025, the arrest caps an intense US-led manhunt for Besciokov, that escalated final week with the seizure of the crypto alternate, the freezing of $26 million in belongings and the unsealing of an indictment in opposition to Besciokov and an alleged confederate.
“I can verify Aleksej Besciokov, one of many directors of Garantex, was arrested in India on the request of america,” US Justice Division spokesperson Nicole Navas Oxman informed CNN.
On 6 March 2025, the Secret Service seized three web site domains used to help Garantex’s operations.
EXPLORE: 10 Best AI Crypto Coins to Invest in 2025
Held On Expenses Of Hacking, Ransomware, Terrorism And Drug Trafficking
Alexey Beschekov – co-founder of Garantex, a crypto alternate that laundered $60B!
He was arrested in India on the U.S.’s request for cash laundering and sanctions violations.
He faces 5–20 years in jail. Garantex’s secrets and techniques will shock you.
pic.twitter.com/oPxffq5AUs
— FinChain (@Defi_FinChain) March 12, 2025
Garantex has been on the radar of worldwide regulatory authorities for a while. The alternate was blacklisted by the US Treasury’s Workplace of Overseas Belongings Management (OFAC) in April 2022. Garantex has a file of being underneath scrutiny for alleged ties to illicit monetary actions.
In response to US authorities, between 2019 and 2025, Russian nationwide Aleksandr Mira Serda and Lithuanian nationwide Besciokov managed and operated Garantex.
Mira Serda was Garantex’s co-founder and Chief Business Officer. Besciokov was Garantex’s main technical administrator and accountable for acquiring and sustaining crucial Garantex infrastructure, in addition to reviewing and approving transactions.
“Garantex acquired tons of of hundreds of thousands in felony proceeds and was used to facilitate numerous crimes, together with hacking, ransomware, terrorism, and drug trafficking, usually with substantial influence to US victims,” the report stated.
Nonetheless, Besciokov had been residing in Russia, in line with the Justice Division. It’s unclear why Besciokov traveled to India. The CBI added that Besciokov was planning to flee India as properly.
EXPLORE: EU Adds Russian Crypto Exchange Garantex To Its Sanctions List
EU Provides Russian Crypto Change Garantex To Its Sanctions Listing
The European Union (EU) has added the Russia-based cryptocurrency alternate, Garantex, to its sixteenth sanctions bundle.
Announced on 24 February 2025, the press launch from the European Council stated, “For the primary time, the Council additionally determined to sanction, a crypto-currency alternate based mostly in Russia, Garantex, which is intently related to EU-sanctioned Russian banks.”
In accordance the council, the sixteenth sanctions bundle “continues concentrating on actors accountable for circumventing EU sanctions, together with by way of third nations.”
“Sanctions may also be imposed on third nations actors immediately supporting the Russian conflict effort,” the EU added.
EXPLORE: 10 Coins with High Returns: Crypto Forecast 2025
Key Takeaways
Garantex is a cryptocurrency alternate that has been on the radar of worldwide regulatory authorities for a while.
The platform has allegedly been concerned in facilitating transactions that enabled cash laundering actions, drawing consideration from regulation enforcement companies worldwide.
Source link