US-wanted Lithuanian man arrested in Kerala for $96 billion crypto laundering

The accused, Aleksej Besciokov, allegedly established the crypto exchange 'Garantex' to launder proceeds from crimes such as ransomware, hacking, and narcotics trade, reported NDTV.

Authorities nabbed Besciokov as he was attempting to flee the country.

According to US Secret Service documents, Besciokov allegedly managed and operated Garantex for nearly six years, facilitating at least $96 billion (over ₹8 lakh crore) in illicit cryptocurrency transactions for transnational criminal networks, including terrorist organisations, while also violating sanctions, NDTV reported.

"Garantex received hundreds of millions in criminal proceeds and was used to facilitate various crimes, including hacking, ransomware, terrorism, and drug trafficking, often with substantial impact to US victims," the US Secret Service was quoted as saying by NDTV reported.

Officials stated that Besciokov served as Garantex’s primary technical administrator, overseeing its infrastructure and approving transactions.

He faces multiple charges in the US, including conspiracy to commit money laundering under Title 18 of the US Code, violating the US International Emergency Economic Powers Act, and running an unlicensed money services business.

The US sanctioned Besciokov in April 2022.

Earlier this week, the Ministry of External Affairs received a provisional arrest warrant at the request of US officials.

Acting on this, a joint operation by the Central Bureau of Investigation (CBI) and Kerala police led to his arrest in Thiruvananthapuram.