Global Crackdown: Cryptocurrency Admin Arrested Over Sanctions and Laundering

Indian authorities arrested Aleksej Besciokov, a cryptocurrency exchange administrator, at the behest of the U.S. for money laundering and sanction violations. The U.S., Germany, and Finland dismantled infrastructure of the Russian exchange Garantex. Besciokov, wanted by the U.S., was charged with operating an unauthorized money-transmitting business.

In a coordinated international effort, Indian authorities have apprehended Aleksej Besciokov, an administrator of a Russian cryptocurrency exchange, after a request from the United States. The arrest is linked to charges of money laundering conspiracy and sanction violations, according to India's top crime-fighting agency.

The U.S. Department of Justice, along with Germany and Finland, successfully dismantled the online operations of Garantex, a Russian cryptocurrency exchange. The exchange, involving about $96 billion in transactions since 2019, was under scrutiny for illicit activities. Last Friday, the Justice Department confirmed charges against Besciokov, a Lithuanian national residing in Russia.

Besciokov was taken into custody in Kerala, India, seen as a significant move in global efforts against money laundering. The U.S. anticipates pursuing his extradition, though the reasons for his presence in India remain unclear. Meanwhile, blockchain research company TRM Labs highlights the takedown as pivotal but warns of potential future evasion by such exchanges.

(With inputs from agencies.)