Billion-Dollar Crypto Kingpin, Wanted By US, Busted By Kerala Police: How An International Manhunt Went Down

<p data-pm-slice=”1 1 []”>Authorities have arrested a Lithuanian national, Aleksej Besciokov, who is wanted by the United States for allegedly operating a massive cryptocurrency exchange linked to illicit financial activities. The exchange, Garantex, reportedly handled $96 billion in transactions and was allegedly used by cybercriminals, drug traffickers, and terrorist organisations to launder money.</p>
<h3><span style=”color: #ba372a;”>Crypto Crackdown: How US And India Tracked Down The Elusive Fugitive</span></h3>
<p>The arrest, carried out in the southern state of Kerala, follows an extensive US-led investigation into Besciokov&rsquo;s activities. Just last week, US authorities seized control of Garantex, froze approximately $26 million in assets, and unsealed an indictment against Besciokov and an alleged accomplice, Russian national Aleksandr Mira Serda. The Justice Department has accused them of facilitating large-scale money laundering operations through the crypto exchange.</p>
<blockquote class=”twitter-tweet”>
<p dir=”ltr” lang=”en”>In a coordinated action with CBI, Kerala Police arrests wanted criminal of USA from Thiruvananthapuram <a href=”https://t.co/bVJZr1YEg2″>pic.twitter.com/bVJZr1YEg2</a></p>
&mdash; Central Bureau of Investigation (India) (@CBIHeadquarters) <a href=”https://twitter.com/CBIHeadquarters/status/1899823183831949645?ref_src=twsrc%5Etfw”>March 12, 2025</a></blockquote>
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<p>&ldquo;The US has formally requested Besciokov&rsquo;s arrest, and we expect extradition proceedings to follow,&rdquo; said Nicole Navas Oxman, a spokesperson for the US Justice Department, as reported by CNN. She confirmed his detention in India but refrained from providing additional details.</p>
<h3><span style=”color: #ba372a;”>$96 Billion Trail: The Dark Web Of Garantex &amp; Its Global Ties</span></h3>
<p>While Besciokov had been residing in Russia prior to his arrest, it remains unclear why he traveled to India. The Central Bureau of Investigation (CBI), which referred to him as a &ldquo;fugitive,&rdquo; is now coordinating with US authorities regarding the next steps in the legal process.</p>
<p><img src=”https://feeds.abplive.com/onecms/images/uploaded-images/2025/03/13/db3f3df366bcb48c8dc34b4af857eb131741873019893402_original.png” width=”720″ /></p>
<p>Garantex, which was sanctioned by the US Treasury Department in 2022, continued its operations by allegedly restructuring its platform to circumvent restrictions and deceive American firms into engaging with it.</p>
<p>According to the indictment, Besciokov played a critical role in maintaining the exchange&rsquo;s infrastructure, while Mira Serda functioned as its co-founder and chief commercial officer.</p>
<h3><span style=”color: #ba372a;”>What&rsquo;s Next? The Extradition Battle &amp; US Plans For Prosecution</span></h3>
<p>The case is seen as a significant breakthrough in the global crackdown on cryptocurrency-based financial crimes. With the US prioritising the arrest and prosecution of individuals behind illegal money laundering networks, Besciokov&rsquo;s detention underscores the growing international cooperation in tackling financial crimes tied to the digital economy.</p>
<p>US authorities are now working to bring him to trial in the Eastern District of Virginia, a key jurisdiction in cases involving international financial crimes and cyber-related offenses.</p>