Garantex Platform Administrator Arrested While on Vacation

Indian authorities have confirmed the arrest of Aleksej Besciokov, the suspected co-founder of Garantex, one of Russia’s most popular cryptocurrency platforms for cybercrime. Besciokov was apprehended while on vacation with his family in the city of Varkala.

According to journalist Brian Krebs, the 46-year-old man was detained by authorities after an international warrant was issued for his arrest. He co-managed the Garantex platform with another suspect, Aleksandr Mira Serda, from 2019 to 2025.

Recently, both individuals were accused by US authorities of facilitating crime through cryptocurrencies and enabling money laundering for criminal organizations. Besciokov was also charged with managing an unlicensed entity for money movement.

Authorities claim that the two suspects were fully aware that Garantex was being used for illegal activities but kept the platform active with weak control measures to avoid detection. They were allegedly profiting from the illegal transactions taking place on the platform.

US authorities have seized the servers and databases used by the platform, which contain customer data. Additionally, over $26 million in platform funds have been frozen, and the website has been shut down by authorities.

This arrest highlights the ongoing battle between law enforcement agencies and cybercriminals in the world of cryptocurrency. It serves as a reminder that even the most popular platforms can be exploited for illegal activities.

Cryptocurrency has long been associated with anonymity and untraceable transactions, making it an attractive tool for criminals. However, authorities are increasingly cracking down on these illicit activities, using advanced techniques to trace and apprehend those involved.

While cryptocurrency offers many benefits and has the potential to revolutionize finance, it is crucial to ensure that proper regulations and security measures are in place to prevent abuse. Platforms must take responsibility for monitoring and preventing criminal activities on their platforms, as failure to do so can result in severe consequences.

As individuals, we must also exercise caution when engaging with cryptocurrency platforms. It’s essential to research and choose reputable platforms that prioritize security and compliance with regulations. By doing so, we can contribute to a safer and more trustworthy cryptocurrency ecosystem.

So, the next time you consider investing or transacting with cryptocurrencies, remember the importance of due diligence and responsible use. Together, we can help shape a future where cryptocurrencies are a force for good, rather than a tool for criminals.