CBI Raids 60 Sites in GainBitcoin Crackdown

India’s CBI Raids 60 Locations in GainBitcoin Scam Investigation

• The Central Bureau of Investigation (CBI) conducted raids at 60 locations across India, including Delhi NCR, Pune, Chandigarh, Nanded, Kolhapur, and Bengaluru.
• The investigation targets the $800 million (₹6,600 crore) GainBitcoin scam initiated by Amit Bhardwaj and Ajay Bhardwaj in 2015.
• GainBitcoin promised investors a monthly return of 10% in Bitcoin through cloud mining contracts.
• The CBI seized digital evidence such as crypto wallets and emails to trace misappropriated funds.
• In March 2022, the Indian Supreme Court ordered Ajay Bhardwaj to disclose his deceased brother’s crypto wallet details.

The CBI’s comprehensive investigation into the GainBitcoin scam involves consolidating multiple FIRs from various states. The agency aims to uncover the fraud’s full extent and trace international fund transfers.