Alleged Garantex Administrator Arrested in India

Indian authorities, at the request of the United States, have arrested Alexey Beschekov, the alleged co-founder and technical administrator of the cryptocurrency exchange Garantex. This was reported by journalist Brian Krebs.

According to sources close to the investigation, the 46-year-old Lithuanian citizen was detained while on a family vacation on the Varkala coast. He is set to appear before a Delhi court on March 14 to face charges.

In the United States, Beschekov is accused of money laundering, conspiracy to violate sanctions, and conducting business without a license. The charges could result in a sentence of up to 45 years in prison.

In early March, Tether blocked Garantex wallets containing assets worth more than 2.5 billion rubles. The platform temporarily ceased operations.

Later, the U.S. Department of Justice confirmed the seizure of the exchange’s domains and the freezing of $26 million in its accounts. 

Meanwhile, the platform’s team announced their intention to reimburse clients’ crypto assets and invited them to their Moscow office.