Indian authorities have apprehended Litva Aleksej Besciokov, one of the co-founders of the crypto exchange Garantex, upon the United States' request.

Facing charges for enabling money laundering through the exchange, Besciokov's extradition to the US is imminent. TechCrunch reveals that the arrest took place in Kerala, with the indictment by the US Department of Justice on March 7 prompting the action.

Accused of breaching US sanctions and engaging in illicit money laundering activities, Besciokov and fellow co-founder Aleksandr Mira Serda are at the center of the legal storm. The US aims to bring Besciokov to the Eastern District of Virginia for trial after the extradition process.

In a synchronized effort with Germany and Finland, the US Secret Service seized three Garantex domains and froze $28 million worth of cryptocurrency linked to the exchange. Allegations in the DOJ indictment suggest Besciokov's direct involvement in facilitating transactions associated with criminal entities, including hackers affiliated with the North Korean government.

Garantex, a Russia-based crypto platform, has been under scrutiny for engaging in activities that facilitate money laundering for criminal entities since 2022. The exchange reportedly processed a staggering $96 billion in cryptocurrency transactions between 2019 and 2025, a sizeable portion of which was suspected to be illicit.

Following the crackdown, Garantex clients gathered for a meeting in Moscow on March 10, 2025, to strategize their next moves amidst the unfolding situation. The exchange's operations remain uncertain as authorities continue their investigation.

The arrest of Garantex's co-founder is not an isolated incident, as other crypto exchanges such as FTX, BTC-e, GCG Asia/GCFX, and Thodex have also faced similar legal challenges recently.