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Garantex Co-Founder Arrested in India

The arrest of the Lithuanian National comes after the Garantex exchange was shut down by American authorities last week.
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Mar 12, 2025 • 1 min read

Indian police have apprehended Aleksej Besciokov, the co-founder of the controversial Russian crypto exchange Garantex, under India's extradition law. The news was first reported by KrebsOnSecurity.

What’s the Scoop?

  • High-profile Arrest: Aleksej Besciokov was arrested in Varkala, India for allegedly facilitating money laundering linked to North Korean hackers via the Garantex platform.
  • Extradition Proceedings: The arrest was executed under India's extradition law, highlighting cross-border cooperation in tackling financial crimes involving cryptocurrencies.
  • Garantex's Response: Garantex has suspended operations and plans to reimburse users, signaling compliance amidst legal challenges.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

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