New Delhi: A Lithuanian national, Aleksej Besciokov, accused of orchestrating a massive cryptocurrency fraud, has been arrested in Kerala, officials confirmed on Wednesday. Besciokov, wanted by the United States for running an illegal crypto exchange linked to money laundering and cybercrimes, was caught while attempting to flee the country.
Besciokov allegedly operated Garantex, a cryptocurrency exchange that facilitated illicit transactions worth at least $96 billion (over ₹8 lakh crore). According to US Secret Service documents, the platform was used by transnational criminal networks, including terrorist organizations, for laundering proceeds from ransomware attacks, hacking, and narcotics trading.
Authorities stated that Besciokov played a key role in maintaining Garantex’s technical infrastructure and approving transactions. He faces multiple charges in the US, including conspiracy to commit money laundering, violating the US International Emergency Economic Powers Act, and operating an unlicensed money service business.
The US government had sanctioned him in April 2022. Following a request from US officials, India’s Ministry of External Affairs issued a provisional arrest warrant. A joint operation by the Central Bureau of Investigation (CBI) and Kerala Police led to his arrest in Thiruvananthapuram earlier this week.
Further legal proceedings regarding his extradition are expected to follow.
