India’s Central Bureau of Investigation (CBI) arrested Ayush Varshney, co-founder and chief technology officer of Darwin Labs Private Limited, as part of the investigation into the fraudulent GainBitcoin scheme.
Varshney was detained on Monday at Mumbai airport while attempting to leave the country, after an alert circular had been issued against him. He was formally arrested and handed over to the CBI on Tuesday.
According to the agency’s official statement, Darwin Labs played a central role in developing the scheme’s technological infrastructure, including GainBitcoin’s investor platform, a Bitcoin payment gateway, the Coin Bank wallet and the GBMiners.com mining pool. The company also participated in the design of the MCAP token and its ERC-20 smart contract.
The case involves approximately 8,000 investors and estimated losses of around 6,606 crore Indian rupees, equivalent to roughly $790 million. GainBitcoin promised monthly returns of up to 10% in Bitcoin over 18 months. The scheme was allegedly led by Amit Bhardwaj, who died in 2022 while awaiting trial on bail.
Source: https://x.com/CBIHeadquarters/status/2031620918481662438
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