Indian Authorities Arrest Co-Founder of Sanctioned Russian Crypto Exchange Garantex

In Brief:

Aleksej Besciokov, co-founder of Russian crypto exchange Garantex, arrested in India.

The U.S. accuses Garantex of money laundering and ties to sanctioned banks and criminal groups.

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Indian authorities have arrested Aleksej Besciokov, the co-founder of Garantex, a Russian cryptocurrency exchange sanctioned by U.S. and German authorities. The Central Bureau of Investigation (CBI) detained Besciokov in Thiruvananthapuram, following a request from American authorities.

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Garantex was sanctioned in 2022 for allegedly facilitating money laundering operations linked to North Korean hacking group Lazarus. U.S. authorities claim that Besciokov and his associates knowingly allowed criminal proceeds to be laundered through the platform.

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Last week, U.S. federal agents seized Garantex’s website, escalating global law enforcement actions against illicit crypto activities. Besciokov now faces extradition proceedings and possible criminal charges.

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