Garantex Co-Founder Arrested in India Amid US Money Laundering Charges
Besciokov, who is also the exchange’s chief technical administrator, was detained at 4 PM IST in Varkala, a coastal region where he was reportedly on holiday with his family.
The arrest follows US charges against Besciokov, accusing him of money laundering for transnational criminal organizations and conspiracy to violate sanctions. These charges were filed in conjunction with authorities in Germanyand Finland, who also seized Garantex’s online domains.
In addition to these charges, Tether recently froze $27 million worth of USDT on the platform, a move that Garantex criticized as part of a “war against the Russian crypto market.” The US claims that Garantex has processed at least $96 billion in cryptocurrency transactions over the past six years.
Forensic blockchain analytics company Elliptic has linked Garantex to activities involving Russian elites avoiding sanctions, as well as North Korean-backed hackers laundering funds. The exchange has also been associated with violent debt gangs, the Kremlin, and Russian-owned oil companies.
While TechCrunch could not confirm whether the arrest was directly related to the US charges, it was reported that extradition laws were cited as the basis for Besciokov’s detention.The 46-year-old has been taken to a local district court and is set to appear in court on Monday. The outcome of his case will likely hinge on India’s decision regarding his extradition to the United States.
Editorial Team
Reporter at Coindoo
