Guwahati: Indian authorities arrested Aleksej Besciokov, a cryptocurrency exchange administrator, at Washington’s request on Wednesday, the Central Bureau of Investigation (CBI) reported.
Besciokov, a Russian resident and Lithuanian national, is accused of money laundering and violating sanctions.
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He also faces charges for operating an unlicensed money-transmitting business, according to the U.S. Justice Department.
The U.S., Germany, and Finland recently took down the online infrastructure used by the Russian cryptocurrency exchange Garantex.
The Justice Department revealed that two administrators of Garantex were charged, including Besciokov.
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He was arrested in Kerala, India, after the U.S. authorities issued a provisional arrest warrant through India’s Foreign Ministry.
The CBI added that Besciokov was attempting to flee India, though it remains unclear why he was in the country. Washington is expected to request his extradition.
The U.S. Justice Department confirmed his arrest and stated that Garantex had processed at least $96 billion in cryptocurrency transactions since April 2019.
The U.S. sanctioned Garantex in April 2022.
Blockchain research firm TRM Labs called the takedown of Garantex a significant step in combating illicit finance but warned that sanctioned exchanges often evade restrictions by creating new entities.