# India Arrests Russian Resident Wanted by US Over $152 Billion Crypto Laundering Ring
In a significant operation, Indian intelligence authorities have arrested a Russian resident who is wanted by the United States for his alleged involvement in a massive cryptocurrency money laundering ring worth over $152 billion.
The arrest of Aleksej Besciokov, a 46-year-old Russian national and Lithuanian resident, was made at the request of the US Justice Department, which has accused him of being one of the administrators of the Garantex cryptocurrency exchange. This exchange, allegedly used by international criminal organizations to launder funds, processed over $152.5 billion in transactions since 2019.
According to the US Justice Department, Besciokov and another Russian national, Aleksandr Mira Serda, operated Garantex, which was used to facilitate various crimes, including hacking, ransomware, terrorism, and drug trafficking. The exchange received hundreds of millions of dollars in criminal proceeds and was used to launder money for these illicit activities.
The Indian Central Bureau of Investigation (CBI) stated that Besciokov was wanted by US authorities and had been planning to flee India. However, the arrest was made at the request of the US Justice Department, with a provisional arrest warrant issued on their behalf.
The US Justice Department has charged Besciokov and Serda with money laundering conspiracy and violating sanctions. The charges carry maximum jail term penalties of 20 years for money laundering and five years for operating an unlicensed money transmitting business.
In addition to the arrest, the US Justice Department has also seized three website domains used by Garantex's operations, preventing them from being used for money laundering and other crimes. Furthermore, over $26 million in funds used to facilitate Garantex's money laundering activities have been frozen.
The operation highlights the growing concern of cryptocurrency-based money laundering and the international cooperation needed to combat this threat. As law enforcement agencies around the world continue to crack down on illicit financial activities, it remains to be seen how the extradition process will unfold for Besciokov, who is now being held in India pending further legal proceedings.
### Key Facts
- **Aleksej Besciokov**: 46-year-old Russian national and Lithuanian resident, arrested by Indian authorities on charges of money laundering conspiracy and violating sanctions. - **Garantex**: Allegedly used by international criminal organizations to launder funds, processed over $152.5 billion in transactions since 2019. - **Aleksandr Mira Serda**: Another alleged administrator of Garantex, charged with money laundering and conspiracy. - **US Charges**: Maximum jail term penalties of 20 years for money laundering and five years for operating an unlicensed money transmitting business.
### Development
Washington is expected to pursue Besciokov's extradition following his arrest in the Indian state of Kerala. The operation marks a significant step in India's efforts to combat transnational criminal activities, including those related to cryptocurrency-based money laundering.