Crypto kingpin on US Secret Service's 'Most Wanted' list arrested in Kerala. Who is Aleksej Besciokov?

Aleksej Besciokov, a Lithuanian national and Russian resident, was arrested in Kerala for allegedly laundering money through his cryptocurrency exchange, Garantex, which is linked to criminal activities.

Aleksej Besciokov, a Lithuanian national with Russian residency and wanted by the US for alleged money laundering and other criminal activities, was arrested by the Central Bureau of Investigation (CBI) and Kerala Police in Thiruvananthapuram. 

The arrest, a result of coordinated efforts by multinational law enforcement agencies, came as the 46-year-old, known for his involvement with Garantex, a cryptocurrency exchange, was reportedly preparing to flee India. The circumstances of his visit to India remain unclear. 

The arrest followed a request from the US, prompting India's foreign ministry to issue a provisional arrest warrant. The CBI stated that Besciokov was wanted by US authorities and was taken into custody as part of a joint operation with the Kerala Police. 

Besciokov, currently in custody, will be presented in a Delhi court, where proceedings regarding his extradition will commence. The US is expected to pursue his extradition to face charges. His activities through Garantex have placed him on the US Secret Service's Most Wanted list, reflecting the severity of the charges against him. 

Who is Besciokov?

Garantex, co-founded by Besciokov, has been under scrutiny for facilitating illicit financial transactions. The US Department of Justice (DOJ) has indicted Besciokov on charges, including money laundering, sanctions violations, and operating an unlicensed money-transmitting business. 

Garantex was sanctioned by the US government in 2022 due to its involvement in processing billions of dollars in cryptocurrency transactions, much of which allegedly funded criminal activities. 

The DOJ revealed that Garantex processed around $96 billion in cryptocurrency transactions since its inception in April 2019. The platform is accused of handling funds linked to various crimes, including hacking, ransomware, terrorism, and drug trafficking. 

These allegations are part of a broader crackdown on illicit finance networks by the US and its international partners. 

Alongside Besciokov, the DOJ also charged Aleksandr Mira Serda, Garantex's Russian co-founder residing in the UAE, with similar offences. The US authorities, in cooperation with Germany and Finland, dismantled the online infrastructure of Garantex, disrupting its operations significantly. 

While details of his movements within India remain undisclosed, sources suggest that intelligence-sharing between the US, Indian authorities, and international agencies played a critical role in his capture. His presence in India raises questions about potential local connections or networks that facilitated his stay.

Besciokov's arrest signifies a concerted international effort to address cybercrime and financial malfeasance. It underscores the ongoing cooperation between the US and other nations to combat the misuse of cryptocurrencies for illegal purposes.