Garantex co-founder Aleksej Besciokov was arrested in India's Kerala on Tuesday, U.S. and Indian officials tell TechCrunch.

The Indian Intelligence authorities arrested a Russian resident accused of involvement with Garantex, a cryptocurrency exchange. The exchange is said to help criminal entities such as terrorists and drug traffickers launder their money.

Alexsej Besciokov, the Lithuanian co-founder of the sanctioned cryptocurrency exchange Garantex, was arrested in India. He faces charges of money laundering and conspiracy, linked to billions in illicit funds.

Indian authorities arrested Aleksej Besciokov, the co-founder and one of the administrators of the Russian Garantex crypto-exchange while vacationing with his family in Varkala, India.

Police in the Indian state of Kerala arrested a Lithuanian national who is wanted in the US for running Garantex, a sanctioned crypto exchange.