As part of its probe into the ₹6,000 crore Indian crypto scam, the Central Bureau of Investigation (CBI) has carried out countrywide searches turning up bitcoin valued ₹23.94 crore.
More than 60 sites were raided over two days in Delhi, Mumbai, Pune, Bengaluru, Chandigarh, Nanded, Kolhapur, Mohali, Jhansi, Hubli, and other cities.
Seized during the raids were several hardware crypto wallets, 121 documents, 34 laptops or hard drives, 12 mobile phones, and several email and instant messaging app data.
Forensic experts are examining all seized electronic gadgets to uncover possible worldwide financial transactions and fraud.
Sources claim that this fraud involves the names of almost 5,000 Gujarat investors. More names should come to light as the search effort runs on.
What is Gain Bitcoin?
Amit Bhardwaj started Gain Bitcoin in 2015 offering prospective investors a 10% monthly return for eighteen months. Originally paying in Bitcoin, the plan was based on multi-level marketing and provided commission incentives.
Payments made in less valuable cryptocurrencies like House Cryptocurrency and MKP instead of Bitcoin by 2017, when the program fell apart
The government has also linked investors from Gujarat to bitcoin scams involving Binance in the past.
Reports say that the CBI questioned some Gujaratis involved in the Gain Bitcoin fraud (Indian crypto scam) and obtained information about their financial transactions through email.
Last year, we also covered the case of Amit Bhardwaj and his team including Ajay Bhardwaj, Vivek Bhardwaj, Smt. Simpy Bhardwaj, Mahender Bhardwaj, and several MLM agents. Masterminds behind another ₹6,600 crore crypto fraud running under a similar investment strategy.
If you want to learn more about past developments, you can read further by clicking this link
