CBI Arrests Darwin Labs CTO in GainBitcoin Cryptocurrency Case
India's CBI arrested Darwin Labs CTO Ayush Varshney for his role in the multi-million-dollar GainBitcoin cryptocurrency fraud.Summary
India’s Central Bureau of Investigation (CBI) arrested Ayush Varshney, co-founder and CTO of Darwin Labs Private Limited, at Mumbai airport while he was attempting to leave the country. Darwin Labs is alleged to have built the core technological infrastructure for the GainBitcoin scheme, which promised investors high monthly returns in Bitcoin but ultimately misappropriated funds. The scheme, which involved about 8,000 investors and estimated losses around $790 million, promoted cloud-mining investments and used a multi-level marketing structure, eventually shifting payouts to a low-value in-house token called MCAP. Varshney's arrest is a key development in the decade-old investigation into this major Indian crypto fraud.
(Source：Cointelegraph)