In a significant blow to illicit financial networks, international law enforcement has dismantled Garantex, a cryptocurrency exchange implicated in large-scale money laundering operations. Two individuals, Aleksej Besciokov and Aleksandr Mira Serda, are facing charges for their roles in the scheme.

Global Operation Targets Garantex

Authorities from the United States, Germany, and Finland collaborated to take down Garantex, a platform allegedly used for laundering billions in cryptocurrency. This operation targeted the exchange's infrastructure, believed to be a hub for transnational criminal activities and sanctions violations.

Charges and Indictments

The crackdown resulted in an indictment in the Eastern District of Virginia, charging Aleksej Besciokov, a Lithuanian national residing in Russia, and Aleksandr Mira Serda, a Russian national based in the UAE. Both are accused of holding pivotal roles in Garantex's operations.

  • Besciokov served as the technical administrator, managing infrastructure and transaction approvals.
  • Mira Serda, a co-founder and chief commercial officer, managed commercial operations.

Both face charges of conspiracy to launder money, with Besciokov also charged with violating sanctions and operating an unlicensed money-transmitting business.

Seizure and Financial Impact

Law enforcement executed a seizure order on Garantex's domains and servers, confiscating $28 million in cryptocurrency. The exchange, active since April 2019, processed approximately $96 billion in transactions, allegedly aiding criminal organizations and violating international sanctions.

Continued Operations Despite Sanctions

Despite being sanctioned by the US Treasury in April 2022 for facilitating money laundering for ransomware groups and dark web markets, Garantex reportedly continued operations by altering its business model and frequently changing wallet addresses to evade detection.

Collaborative Investigation

The investigation saw cooperation among various agencies, including the German Federal Criminal Police, Dutch National Police, Europol, and blockchain analytics firm Elliptic. The indictment mentions clients such as North Korea's Lazarus Group and Russian oligarchs.

A public appeal has been made for potential victims to reach out to law enforcement. Learn more about zero-day vulnerabilities in our detailed Research section.

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