India Arrests Garantex Co-Founder as U.S. Seeks Extradition

Indian police have arrested Aleksej Besciokov, co-founder of the Russian crypto exchange Garantex, after the European Union sanctioned the platform for facilitating money laundering.

According to Indian state police officials, Besciokov—a Lithuanian national—was detained in Kerala under India’s extradition law.

The arrest was carried out on March 11, following a warrant issued by the Patiala House Court in New Delhi.

Besciokov was reportedly vacationing with his family when Indian authorities apprehended him.

After appearing before a local court in Varkala, he is set to be transferred to New Delhi on March 14.

While Indian officials have not confirmed whether his arrest is directly tied to his U.S. indictment, his extradition status suggests he is not facing charges in India.

Garantex Shut Down as U.S. and Allies Tighten Grip

Garantex, one of Russia’s largest crypto exchanges, shut down on March 6, just days before Besciokov’s arrest.

The closure followed Tether freezing 2.5 billion USDT linked to Garantex as part of a crackdown on illicit transactions.

Founded in 2019, Garantex was sanctioned by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) in April 2022 for processing billions in illicit funds tied to hacking, ransomware, terrorism, and drug trafficking.

Despite the sanctions, Garantex reportedly processed over $60 billion in transactions through 2023.

Besciokov Accused of Laundering Illicit Funds for Cybercriminals and Russian Elites

Authorities claim Besciokov, known by the hacker alias “proforg,” was the mastermind behind Garantex’s technical infrastructure and personally approved transactions linked to North Korean cybercriminals and sanctioned Russian elites.

His arrest in India follows the U.S. Department of Justice (DOJ) unsealing an indictment against him and fellow Garantex co-founder Aleksandr Mira Serda.

U.S. Authorities Pursue Extradition

Besciokov faces multiple serious charges in the U.S., including:

🔹 Conspiracy to commit money laundering (20 years maximum sentence)
🔹 Violating U.S. sanctions (20 years maximum sentence)
🔹 Operating an unlicensed money transmission business (5 years maximum sentence)

The U.S., Germany, and Finland coordinated to seize Garantex’s servers, while the U.S. Secret Service froze over $26 million linked to the exchange.

Law enforcement has also obtained Garantex’s customer and accounting records, which may lead to further charges for Besciokov and Serda.

Serda Still on the Run

While Besciokov awaits extradition, his alleged co-founder Aleksandr Mira Serda remains at large.

Serda, a Russian national believed to be in the UAE, is accused of running Garantex’s business operations and laundering illicit funds.

The U.S. is expected to formally request Besciokov’s extradition to stand trial in the Eastern District of Virginia, where the indictment was filed.

With the U.S. ramping up international crypto crime enforcement, Besciokov’s arrest marks a significant step in dismantling illicit crypto networks.