CBI Seizes ₹23.94 Crore in GainBitcoin Cryptocurrency Fraud Investigation

The investigation into the ₹6,606 crore scam involves nationwide raids, digital evidence, and international money laundering probes.

The Central Bureau of Investigation (CBI) raided over 60 locations across India, including Delhi, Mumbai, Pune, and Bengaluru, as part of its probe into the GainBitcoin cryptocurrency scam.
GainBitcoin, launched in 2015 by Amit Bhardwaj and Ajay Bhardwaj, operated as a multi-level marketing scheme promising 10% monthly returns in Bitcoin, later switching to a less valuable in-house cryptocurrency called MCAP.
The CBI seized cryptocurrencies worth ₹23.94 crore, alongside hardware wallets, laptops, mobile phones, and other incriminating digital evidence to trace misappropriated funds and potential international transactions.
The scam, estimated at ₹6,606 crore, allegedly defrauded investors by diverting funds through nine foreign firms and concealing proceeds in obscure online wallets.
The Enforcement Directorate is conducting a parallel money laundering investigation, while the CBI continues its comprehensive effort to identify all accused parties and recover the stolen assets.