CBI Arrests Darwin Labs Co-Founder in Multi-Crore GainBitcoin Scam

TheNewsCryptoPublicado em 2026-03-11Última atualização em 2026-03-11

Resumo

India's Central Bureau of Investigation (CBI) has arrested Ayush Varshney, co-founder and CTO of Darwin Labs, in connection with the GainBitcoin cryptocurrency scam. The alleged fraud is estimated to be worth ₹20,000 crore and involves around 29,000 mined bitcoins. Varshney was intercepted at Mumbai airport while attempting to leave the country and arrested on March 10. Darwin Labs developed the technological infrastructure for the operation, including the MCAP token, smart contracts, and various platforms. The CBI is investigating the case under the Indian Penal Code and IT Act to trace misappropriated funds and identify other individuals involved.

India’s Central Bureau of Investigation (CBI) has arrested Ayush Varshney, co‐founder and Chief Technology Officer of Darwin Labs Private Limited, in connection with the alleged GainBitcoin cryptocurrency fraud, officials said on Wednesday. The alleged scam is now estimated to be worth at least ₹20,000 crore and is believed to involve around 29,000 mined bitcoins. Investors were reportedly enticed with promises of high returns from Bitcoin‐linked investments.

The CBI issued a Look Out Circular for Varshney after he went into hiding. On March 9, immigration officials at Mumbai’s airport stopped him when he was allegedly attempting to leave India, and he was formally arrested the next day.

Darwin Labs Built MCAP Token; CBI Probe Ongoing

According to the agency, Darwin Labs played a key role in creating the technological infrastructure for the GainBitcoin operation, including developing a cryptocurrency token called MCAP along with ERC-20 smart contracts and platforms used by the scheme. The operation, which was launched in 2015 under the façade of Variabletech Pte Ltd, also included a Bitcoin mining pool, payment gateway and investor portal, authorities said.

The CBI is investigating the case under multiple sections of the Indian Penal Code and the Information Technology Act. The probe aims to trace misappropriated funds and identify other individuals involved, with further developments expected as the investigation continues.

Highlighted Crypto News Today:

Binance Founder Changpeng Zhao Rejects Forbes’ $110B Net Worth Estimate

TagsBitcoinBitcoin scamBTCCrypto ScamIndiaScam

Perguntas relacionadas

QWho was arrested by the CBI in connection with the GainBitcoin scam?

AAyush Varshney, co-founder and Chief Technology Officer of Darwin Labs Private Limited.

QWhat is the estimated value of the GainBitcoin scam according to the article?

AThe scam is estimated to be worth at least ₹20,000 crore.

QWhat cryptocurrency token did Darwin Labs develop for the operation?

ADarwin Labs developed a cryptocurrency token called MCAP.

QWhere and when was Ayush Varshney apprehended?

AHe was stopped by immigration officials at Mumbai's airport on March 9 when he was allegedly attempting to leave India and was formally arrested the next day.

QUnder what legal frameworks is the CBI investigating this case?

AThe CBI is investigating the case under multiple sections of the Indian Penal Code and the Information Technology Act.

Leituras Relacionadas

Has Bitcoin Bottomed, or Is a 'Shakeout' Approaching? What's the Situation with XRP?

Cryptocurrency analytics platform Santiment shared key insights on Bitcoin and altcoin markets, highlighting significant signals from on-chain data. Analysis shows Bitcoin's 365-day MVRV ratio has fallen to -26%, indicating substantial losses for long-term holders, a level historically associated with market bottom formations and long-term buying opportunities. While short-term MVRV is near breakeven, suggesting no clear directional signal, the annual perspective points to a bottom before bullish cycles. On-chain data reveals divergent behavior: large wallets (10-10,000 BTC) have been accumulating, adding ~18,500 BTC in 10 days, while smaller retail investors continue buying dips. Analysts caution that high retail demand can sometimes create a risk of a final market shakeout or correction. The altcoin market shows a mixed picture. Ethereum's 365-day MVRV is around -33%, but recent monthly gains combined with overly optimistic social sentiment pose a short-term correction risk. XRP is in oversold territory with 30-day and 365-day MVRVs at -57.5% and -45.5% respectively, signaling potential for a strong mid-to-long term rebound. Social activity and optimism are rising for Solana, while investor sentiment remains calmer towards Cardano. Future direction for Bitcoin and altcoins depends not only on on-chain metrics but also on macroeconomic and regulatory developments. The Federal Reserve's interest rate decision and upcoming policy rulings are increasing market volatility expectations, while uncertainty around the U.S. Congressional clarity process continues to pressure pricing. *This is not investment advice.

cryptonews.ruHá 11m

Has Bitcoin Bottomed, or Is a 'Shakeout' Approaching? What's the Situation with XRP?

cryptonews.ruHá 11m

Rumors Spread About Altcoin: Former Employees Speak Out

Rumors are circulating about the Solana-based meme launchpad Pump.fun allegedly conducting employee layoffs just before significant token unlocks. According to reports, the company began terminating employees around two months before their $PUMP tokens were scheduled to vest. At least one former employee reportedly lost tokens now valued at over $1 million. Internal documents suggest Pump.fun cited overly rapid growth as a reason for layoffs starting in early April. Terminated employees were offered severance, but the major loss stemmed from forfeiting their allocated $PUMP tokens per their agreements, which stipulated a four-year vesting schedule. A second wave of layoffs reportedly occurred in mid-July, with claims that some employees were dismissed just one day before their tokens unlocked. The total number of employees let go over two months is said to exceed 40. Pump.fun co-founders have not commented. Despite an approximate 79% drop from its 2025 peak, $PUMP retains substantial value. The platform itself has been highly profitable since late 2024, generating around $1.3 billion in total revenue and facilitating the creation of over 20.8 million tokens, with daily revenue reportedly still near $1 million.

cryptonews.ruHá 48m

Rumors Spread About Altcoin: Former Employees Speak Out

cryptonews.ruHá 48m

Ethereum Experiences a 43-Day Queue for Staking: But According to One Expert, This Is Not a True Bull Signal

A 43-day queue has formed for staking on Ethereum, with about 2.5 million ETH awaiting activation due to a surge in new validators. However, Thomas Brunner of Sygnum Bank cautions that this backlog should not be seen as a direct bullish signal. He explains it reflects institutional demand but is heavily influenced by Ethereum's protocol mechanics, like the post-Dencun daily validator activation limit of ~57,600 ETH, unchanged with the Pectra upgrade. Pectra allows topping up existing validators, but even small additions join the same activation queue as new stakers. Therefore, the queue comprises not just new investor demand but also restaking and reward compounding from existing participants. Brunner suggests a stronger positive signal is the nearly empty withdrawal queue, indicating current stakers are holding. He notes institutional interest persists despite ETH price weakness, viewing staking yield as a core feature, though privacy concerns over on-chain traceability remain a key barrier to faster institutional adoption.

cryptonews.ruHá 1h

Ethereum Experiences a 43-Day Queue for Staking: But According to One Expert, This Is Not a True Bull Signal

cryptonews.ruHá 1h

Bank of Korea Reveals Results of Tokenized Deposit Testing

The Bank of Korea has announced the results of its pilot test for tokenized deposits. Involving 28 central banks and international financial organizations, the project saw participation from major South Korean banks including KB Kookmin Bank, NH NongHyup Bank, Shinhan Bank, Woori Bank, and Hana Bank. Transactions, from payment orders to final settlement, were completed in real time, averaging just 80 seconds. The test involved 30 transactions across 17 different scenarios—such as corporate and interbank transfers—and was conducted in six currencies, including the Korean won, US dollar, and euro, with a total transaction value reaching approximately $995,000. The central bank reported that the platform operated stably throughout, despite being only partially connected to the existing banking infrastructure. Settlements using tokenized deposits were executed seamlessly, quickly, and transparently. An internal transfer of 20 million won (about $13,890) between NH NongHyup Bank and Shinhan Bank was also successfully processed via the Project Agora platform, which involved connecting to the Bank of Korea's CBDC test platform, Project Hangang. Additionally, KB Kookmin Bank and Japan's MUFG Bank tested cross-border payments using these deposit tokens—digital certificates issued by commercial banks within the pilot, not directly by the central bank. The Bank of Korea plans to continue testing payments with tokenized deposits. This follows last year's pledge by South Korean authorities to tighten regulations for won-based stablecoins, which will require approval from both the central bank and the Financial Services Commission.

cryptonews.ruHá 2h

Bank of Korea Reveals Results of Tokenized Deposit Testing

cryptonews.ruHá 2h

Head of Major Miner Estimates AI Profitability Ten Times Higher Than Mining

The CEO of Canadian mining company HIVE Digital Technologies, Frank Holmes, stated that the company is accelerating its development in artificial intelligence (AI) computing. HIVE, one of the world's largest public bitcoin miners controlling about 2% of the global hashrate, expects its revenue share from AI to grow from approximately 10% to over 50% this year. Holmes highlighted the significant difference in profitability, noting that ASIC miners generate around $0.12–0.14 per hour, while a single Nvidia H100 GPU can earn nearly $2 per hour. Even older GPUs yield about $1.4 per hour, roughly ten times the revenue from mining hardware. Major miners like Riot Platforms, Cipher Digital, MARA, and TeraWulf are mitigating losses by shifting from cryptocurrency mining to supporting AI computations in their data centers or combining both activities. For instance, MARA Holdings recently purchased a $600 million site for AI and mining data centers. The company's CEO had previously warned that without at least a 50% annual increase in Bitcoin's price, the current mining model would become unprofitable. With the estimated cost to mine one Bitcoin around $78,000 for summer 2026 and Bitcoin's price remaining below that level for months, some miners have begun shutting down equipment as rising costs and network difficulty squeeze margins.

cryptonews.ruHá 2h

Head of Major Miner Estimates AI Profitability Ten Times Higher Than Mining

cryptonews.ruHá 2h

Trading

Spot
活动图片

Categorias popularesright-arrow

Etiquetas Popularesright-arrow