Indian Law Enforcement Arrests Alleged Mastermind Behind $2.1B GainBitcoin Ponzi Scheme
Indian authorities arrested Ayush Varshney, the alleged technical mastermind of the $2.1 billion GainBitcoin Ponzi scheme, while he tried to flee to Sri Lanka.Summary
The Central Bureau of Investigation (CBI) arrested Ayush Varshney, the CTO of Darwin Labs Private Limited and alleged technical mastermind behind the GainBitcoin Ponzi scheme, at Mumbai airport on March 9 as he attempted to leave for Sri Lanka. Varshney is accused of developing the scheme's technological infrastructure, including the MCAP token and wallet systems. The GainBitcoin scheme, launched in 2015 by Amit and Ajay Bhardwaj, defrauded over 100,000 investors of an estimated $2.1 billion by promising high returns through fake Bitcoin cloud mining and multi-level marketing tactics. This arrest is the first major custodial action by the CBI since the Supreme Court consolidated the probe, and investigators believe Varshney's technical knowledge is crucial for tracing assets moved internationally.
(Source：CCN)