Crypto Caper: Co-Founder Caught in India While on Family Holiday! 🏖️💰

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In a plot twist that could only be penned by the universe’s most mischievous author, Indian authorities have nabbed Aleksej Besciokov, the alleged co-founder of Garantex, a cryptocurrency exchange that seems to have taken “extensive money laundering activities” as its motto. Who knew laundering could be so… lucrative? 💸

Over $60 Billion in Transactions: A Criminal’s Playground

Besciokov, a 46-year-old Lithuanian who apparently thought a family vacation in Varkala, Kerala, was a good idea, was arrested faster than you can say “extradition request.” This delightful escapade followed an indictment from the US Department of Justice (DOJ) that was unsealed on March 7, because why not add a little drama to the holiday? 🎭

Alongside him in this merry misadventure is his co-founder, Aleksandr Mira Serda, a 40-year-old Russian residing in the UAE, who is also charged with conspiracy to commit money laundering. It’s like a buddy cop movie, but with more money and fewer donuts. 🍩

Garantex, which launched in 2019, was given a stern talking-to by the US Treasury’s Office of Foreign Assets Control in April 2022 for its role in facilitating the movement of criminal proceeds. Apparently, they didn’t get the memo about “don’t do crime.”

Reports suggest that since the sanctions were imposed, the exchange has processed over $60 billion. That’s a lot of zeros, and not the kind you want on your bank statement! 😱

According to blockchain analysis firm Elliptic, Garantex has dabbled in a smorgasbord of unlawful activities, including ransomware attacks, drug trafficking, and evading sanctions like a cat dodging a bath. 🐱💦

They’ve even helped Russian oligarchs transfer their wealth abroad, particularly after the invasion of Ukraine. Because nothing says “I love my country” like moving your money elsewhere, right?

DOJ Claims Garantex Co-Founder Went by the Hacker Alias “Proforg”

The DOJ alleges that Besciokov was the tech wizard behind Garantex, maintaining critical infrastructure and approving transactions. Sounds like a job for a superhero, but with a much less glamorous cape. 🦸‍♂️

In a plot twist worthy of a soap opera, German and Finnish law enforcement agencies have seized servers hosting Garantex’s operations, while US authorities have frozen over $26 million linked to the exchange’s money laundering escapades. Talk about a cold shower! ❄️

And in a delightful twist of fate, Besciokov is said to have operated under the hacker handle “proforg,” a name that sounds like it was pulled from a particularly questionable Russian-language forum. Who knew hackers had such a flair for the dramatic? 🎭

The charges against him include conspiracy to violate the International Economic Emergency Powers Act, which could land him a cozy 20 years in prison, and conspiracy to operate an unlicensed money transmitting business, which could add another five years to his stay. It’s like a vacation package, but with bars instead of beaches! 🏖️🚫

Besciokov is set to appear in a Delhi court on March 14, where he will face these serious charges. If found guilty, he’ll be forfeiting any property involved in his little escapade. So, if you see a “For Sale” sign on a mansion, it might just be his! 🏡

Furthermore, if convicted of the offense detailed in Count II of the indictment, he’ll also have to forfeit any property that constitutes or is derived from proceeds traceable to the offense. It’s like a game of Monopoly, but with real consequences! 🎲

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2025-03-13 22:18