Gate News reports that on March 11, the Central Bureau of Investigation (CBI) in India announced the arrest of Ayush Varshney, co-founder and Chief Technology Officer of Darwin Labs, at Mumbai Airport for his alleged involvement in the GainBitcoin Ponzi scheme. It is said that Varshney was attempting to leave India at the time. Investigations revealed that the scheme was operated by Variabletech Pte. Ltd., which attracted investors by promising high returns on crypto investments. Authorities accused Darwin Labs of developing and deploying key technological infrastructure for the scheme, including the MCAP cryptocurrency token and ERC-20 smart contracts. Additionally, Darwin provided technical support for GBMiners.com Bitcoin mining platform, BitCoin Payment Gateway, CoinE Bank Bitcoin wallet, and GainBitcoin investment website, which are allegedly used to lure and scam investors. The scheme began in 2015 and operated across multiple states in India. It is estimated that the case involves approximately 1.9 billion rupees (about $21 million USD) in funds and 29,000 bitcoins, which are now worth over $2 billion USD at current prices.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
