🇮🇳 India's Biggest Crypto Fraud: 29,000 BTC Stolen, CTO Arrested at Mumbai Airport

Rouse Avenue Court remands Ayush Varshney (CTO, Darwin Labs) in judicial custody till March 30.

Here's What You Need to Know 👇
1️⃣ GainBitcoin was a Ponzi scheme launched in 2015 that promised investors 10% monthly returns in Bitcoin for 18 months.
2️⃣ The scam involved 29,000 mined Bitcoins ($2.1 Billion at Today's Prices) and defrauded ~8,000+ investors across India.
3️⃣ Darwin Labs built the entire tech infrastructure, the GainBitcoin platform, GBMiners mining pool, Bitcoin payment gateway, Coin Bank wallet, and the MCAP token (ERC-20).
4️⃣ Varshney was caught at Mumbai Airport on March 9 while trying to flee to Sri Lanka. A Look Out Circular had been issued against him.
5️⃣ This is the first arrest by CBI in this case, following a Supreme Court directive.
6️⃣ Key names linked to the case:
→ Amit Bhardwaj (mastermind, now deceased)
→ Ajay Bhardwaj & Mahender Bhardwaj (still absconding)
→ Raj Kundra (ED attached ₹97.79 Cr properties)
7️⃣ Total recovery so far: Only ₹23 Crore out of ₹20,000 Crore, less than 0.12%.

Lesson: If someone promises guaranteed fixed returns in crypto, it's a scam. No exceptions.

Always DYOR before investing in any crypto project.

VS: ANI