CBI Arrests Darwin Labs Co-Founder in GainBitcoin Scam, Sends Him to Custody Till March 30
The Central Bureau of Investigation has arrested Ayush Varshney in a massive Bitcoin scam case. He is the co-founder of Darwin Labs and is now in judicial custody till March 30. The case is linked to the GainBitcoin scheme, which has caused losses to many people.
Officials nabbed Varshney at the Mumbai airport as he tried to fly to Sri Lanka. A Lookout Circular was already issued against him. Immigration officers stopped him and informed the CBI. This is the first arrest by the CBI in the Bitcoin scam case that’s making headlines over the past few months.
Arrest at Mumbai Airport
Investigators say Varshney helped build the system used in the scam. His company, Darwin Labs, worked on things like digital tokens, payment systems, and websites. These tools helped run the GainBitcoin scheme and bring in more investors.
The GainBitcoin scheme started in 2015 and promised fixed monthly returns. Many people trusted the scheme and invested money to earn profits. Officials now say it worked like a Ponzi scheme as new investors’ money was used to pay old investors, which kept the scheme going for some time.
How the GainBitcoin Scheme Worked
The scam is estimated to involve thousands of crores, with many investors across India losing significant amounts of money. The names of Amit Bharadwaj and Ajay Bhardwaj have also come up as key suspects behind the scheme. Several complaints have already been filed, and different agencies have started looking into the matter.
The Supreme Court earlier asked the CBI to handle all related cases together. This helped make the investigation stronger and more organized. Officials are now trying to find where the money went and who else is involved in the Bitcoin scam.
Investigation Continues
The court has charged Varshney with cheating, breach of trust, and criminal conspiracy. Charges under the Information Technology Act have also been added since the case involves online systems. The court sent him to custody so the investigation can continue properly.
The probe is still ongoing, and more arrests are expected soon. This case shows how risky such schemes can be and why people need to be careful while investing.
Disclaimer : Crypto News India does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
