India arrests suspect in alleged multi-year GainBitcoin Ponzi scheme at Mumbai airport
India's CBI arrested Darwin Labs co-founder Ayush Varshney for his role in the multi-year GainBitcoin Ponzi scheme.Summary
India's Central Bureau of Investigation (CBI) arrested Ayush Varshney, co-founder and CTO of Darwin Labs, at Mumbai airport for his alleged involvement in the GainBitcoin Ponzi scheme. Darwin Labs reportedly developed the fraudulent technology infrastructure for the scam, which was operated by Variabletech Pte. Ltd. and promised high cryptocurrency returns. The scheme, which began around 2015, allegedly misappropriated ₹20,000 crore and involved 29,000 mined bitcoins, valued today at over $2 billion. Varshney's arrest follows a Supreme Court order directing the CBI to expand its probe into incidents related to GainBitcoin, which previously led to the 2018 arrests of founder Amit K. Bhardwaj and other Darwin Labs co-founders.
(Source：The Block)