Tags: Sizzling Naked Fraud: Two Administrators Charged in Massive Crypto Money Laundering Operation
The Justice Department has dropped a bombshell, revealing a major international crackdown on Garantex, a cryptocurrency exchange accused of laundering billions for cybercriminals, terrorists, and sanction violators. In a coordinated effort with Germany and Finland, authorities have dismantled Garantex’s infrastructure, putting a massive dent in the dark underbelly of illicit crypto transactions.
The Players: Besciokov and Mira Serda.
Aleksej Besciokov, 46, a Lithuanian national residing in Russia, and Aleksandr Mira Serda (formerly Aleksandr Ntifo-Siaw), 40, a Russian national living in the UAE, have been hit with a federal indictment in Virginia. The charges? Money laundering conspiracy, sanctions violations, and running an unlicensed money transmitting business. These two masterminds allegedly ran Garantex from 2019 to 2025, knowing full well that the exchange was a haven for criminals.
A criminal safehouse in plain sight.
Garantex was more than just a shady exchange—it was a hub for illicit finance, facilitating crimes like hacking, ransomware, drug trafficking, and terrorism. The indictment reveals that Besciokov, as the platform’s technical administrator, managed the infrastructure and approved transactions, while Mira Serda, the co-founder and chief commercial officer, handled the end of their criminal enterprise.
Russian authorities requested information on an account linked to Mira Serda, but Garantex provided incomplete records and denied the account’s verification. In reality, the account was tied to Mira Serda’s personal documents. Meanwhile, Garantex willingly provided data on other accounts, proving their selective compliance with law enforcement.
Evading sanctions and staying one step ahead.
Despite being sanctioned in April 2022 by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) for laundering funds from ransomware actors and darknet markets, Besciokov and his team kept Garantex alive by revamping its operations. They manipulated their crypto wallets daily to dodge detection, tricking U.S. exchanges into unknowingly processing transactions for them.
Garantex also failed to register with the Financial Crimes Enforcement Network (FinCEN), despite moving billions in crypto transactions through U.S. markets.
The US Secret Service Seizes Domains
On March 6, the U.S. Secret Service (USSS) executed a court-approved seizure of three key domain names—Garantex.org, Garantex.io, and Garantex.academy—effectively shutting down the exchange’s online presence. Visitors to these sites now see a seizure notice from law enforcement.
Meanwhile, German and Finnish authorities seized Garantex’s servers, while U.S. law enforcement locked down over $26 million in illicit funds. Investigators also obtained earlier versions of Garantex’s databases, exposing the full extent of its criminal operations.
Besciokov and Mira Serda each face up to 20 years in prison for money laundering conspiracy. Besciokov could also get another 20 years for violating the International Emergency Economic Powers Act and five more for running an unlicensed money transmitting business.
The investigation, spearheaded by the USSS and the FBI, was bolstered by international law enforcement agencies, including Europol and authorities from Germany, Finland, the Netherlands, and Estonia. Blockchain analytics firm Elliptic and Tether also provided crucial assistance.
Victims speak up
If you suspect your funds were laundered through Garantex, authorities urge you to contact them.
This case is a stark reminder: the crypto world isn’t the lawless frontier criminals believe it to be. The walls are closing in, and fraudsters will face justice.
If you have a story to share with Naked Fraud, drop us a line.
The inevitable moment when the “we’re just a platform, not criminals” defense crashes and burns. Two administrators caught laundering crypto? Shocking. Next, you’ll tell me the sun rises in the east.
These guys probably thought they were untouchable—hiding behind layers of blockchain anonymity, offshore shell companies, and “we comply with all regulations” press statements. Turns out, the feds have gotten pretty good at playing Where’s Waldo with illicit crypto flows.
And let’s be honest, the only real surprise here is that they actually got caught. Most of these operations run for years before anyone blinks. But sure, let’s all pretend crypto is still just about “decentralized finance” and not the world’s fastest-growing money-laundering tool.