CBI Arrests Darwin Labs CTO Over GainBitcoin Crypto Fraud

[encrypted]

India’s has arrested in connection with the multi-million-dollar GainBitcoin cryptocurrency fraud. Varshney was detained at Mumbai airport while attempting to leave the country following a Look Out Circular and later handed over to the CBI. Investigators allege that Darwin Labs built key technological infrastructure used to manage investor payments, wallets, and the GainBitcoin platform itself.

The GainBitcoin scheme, promoted through , promised investors fixed monthly returns of around 10% in Bitcoin for up to 18 months. Authorities say the platform eventually misappropriated funds and shifted payouts to its in-house MCAP token, affecting thousands of investors and resulting in estimated losses of roughly $790 million.

[johnblockbuster]

estimated losses of ~6,606 crore INR (~$790 million) make this one of India’s largest crypto fraud cases, underlining the risks of unregulated crypto investments.