Aleksej Besciokov, a Lithuanian national wanted by the United States, has been arrested in India. He was taken into custody by the Central Bureau of Investigation (CBI) and Kerala Police.
The 46-year-old was on vacation with his family in Kerala when authorities apprehended him. He is accused of using the cryptocurrency exchange Garantex to launder criminal proceeds, including ransomware funds.
Crackdown on Garantex and Money Laundering Allegations
Garantex, the exchange at the center of the case, has been under scrutiny for years. It was sanctioned by the U.S. Treasury’s Office of Foreign Asset Control (OFAC) in 2022.
The exchange allegedly facilitated money laundering for ransomware groups like Conti and Black Basta. It was also linked to Hydra, once the world’s largest darknet marketplace before it was shut down in 2022.
The U.S., Germany, and Finland recently dismantled Garantex’s servers and domains. Law enforcement agencies seized nearly $28 million in crypto with help from stablecoin issuer Tether.
The U.S. Justice Department also announced charges against two of the exchange’s administrators. Besciokov, a Russian resident, is now among those facing legal action.
Links to North Korean Hackers and Sanctions Evasion
Authorities claim that Garantex was involved in large-scale sanctions evasion. It allegedly helped criminals, including North Korea’s notorious hacking group, Lazarus.
The Lazarus Group was responsible for the massive $1.5 billion Bybit crypto heist last month.
Besciokov is also accused of working with Russian oligarchs using high-end services like TGR Group to bypass sanctions.
The investigation found that between 2021 and 2024, Garantex laundered millions of dollars from ransomware payments. The funds came from groups such as Black Basta, Play, and Conti.
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The scale of these operations has made Garantex one of the most significant targets in the global crackdown on crypto-related financial crimes.
Legal Action and Extradition Process
Following a U.S. request, India’s Ministry of External Affairs issued a provisional arrest warrant for Besciokov on March 10, 2025. The warrant was approved by a Delhi court, allowing the CBI to coordinate with the Kerala Police to make the arrest.
Besciokov will be presented before the Patiala House Court in Delhi, where extradition proceedings will begin.
Apart from money laundering, he is charged with conspiracy to violate sanctions and operating an unlicensed money-transmitting business.
Authorities claim he made significant profits from laundering money linked to ransomware, hacking, and narcotics transactions.
A Step Forward in the Fight Against Crypto Crime
TRM Labs, a blockchain research company, called the takedown of Garantex a major milestone. However, they cautioned that sanctioned exchanges often find ways to rebrand and continue operations under different names. This means law enforcement agencies will need to stay vigilant against similar threats.
In the meantime, the arrest of Besciokov marks a victory for global authorities fighting crypto-related crime.
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