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

In Conversation with Ray Dalio: We Are Currently in an AI Bubble, with 1% of My Portfolio in Bitcoin

Ray Dalio, founder of Bridgewater Associates, warns in an interview that the current AI boom shows classic bubble characteristics, which could lead to significant economic downturns as seen in past cycles like 1929 or 2000. He explains that speculative enthusiasm, fueled by debt and overvaluation, often precedes a crash when rising rates or taxation force asset sales, causing widespread losses and recession. Dalio also outlines his "Big Cycle" theory, describing an approximate 80-year pattern where widening wealth gaps, massive government deficits, and shifting geopolitical power (like China's rise) create internal conflict and global instability. He emphasizes that we are in a late-cycle, transitional phase where traditional powers like the US and UK face decline. For personal wealth protection, Dalio advises diversification beyond cash into assets like stocks, bonds, real estate, and particularly gold, which he prefers over Bitcoin. While he holds about 1% of his portfolio in Bitcoin as a non-printable hard asset, he views gold as more secure from technological or governmental threats. Regarding AI's impact, Dalio believes it will disproportionately benefit capital owners, worsening inequality by replacing both physical and cognitive labor. He suggests that human intuition and emotional intelligence, combined with AI, will be key for future workers. On taxation, Dalio argues that wealth taxes are impractical and risk triggering asset sell-offs, reducing productive investment. He points to the UK as a cautionary example of debt, low productivity, and political strife. Geopolitically, Dalio foresees a more regionalized world, with the US showing weakness in prolonged conflicts like with Iran, akin to past imperial declines. The ideal outcome, he suggests, is coexisting powerful blocs (e.g., Americas, China-Asia Pacific) without major war.

marsbitHá 40m

In Conversation with Ray Dalio: We Are Currently in an AI Bubble, with 1% of My Portfolio in Bitcoin

marsbitHá 40m

Daily 7.2 Trillion KRW: Foreign Capital's Record Net Buying on Friday! Wall Street Says Headwinds for Korean Stock Fund Flows Have Subsided

South Korean stock market sees a dramatic shift in fund flows. On July 31, foreign investors made a record net purchase of approximately KRW 7.2 trillion in KOSPI stocks, marking a fundamental reversal from the persistent large-scale net outflows seen in previous months. This contributed to a significant narrowing of foreign net selling in July to KRW 9.8 trillion, down sharply from KRW 48.4 trillion in June and KRW 44.5 trillion in May. Simultaneously, domestic institutional pressure eased. South Korean pension funds and asset managers turned to a net buying position in July, purchasing KRW 1.0 trillion worth of KOSPI shares, contrasting with net sales in May and June. Market volatility is expected to be dampened by new financial regulations. Effective July 31, the Financial Services Commission tightened access for retail investors to single-stock leveraged ETFs by raising the minimum cash deposit requirement. Trading volumes for these products subsequently dropped to about 50% of their monthly average. Citigroup Research maintains its year-end KOSPI target of 10,000 points. The firm cites several supportive factors: the substantial easing of headwinds from capital outflows, a robust fundamental outlook for the semiconductor sector, historically low market valuations, strong economic fundamentals, and the potential for policy support from financial authorities if needed.

marsbitHá 41m

Daily 7.2 Trillion KRW: Foreign Capital's Record Net Buying on Friday! Wall Street Says Headwinds for Korean Stock Fund Flows Have Subsided

marsbitHá 41m

Breaking! OpenAI's Next-Gen AI Solves 10 Fields Medal-Level Problems

OpenAI's next-generation AI model Astra achieves breakthroughs in 10 long-standing mathematical conjectures. The results, including constructing the first known infinite, finitely presented non-sofic group—resolving a major question since 1999—and advancing the high-dimensional sphere packing problem beyond a 46-year-old barrier, are detailed in a 249-page paper. Key proofs have been formally verified using Lean 4. The AI also refuted a rigidity conjecture by Fields Medalist Alain Connes. According to OpenAI, generating these proofs cost under $2,000. Experts describe the findings as potentially Fields Medal-worthy and a landmark moment for both mathematics and AI, showcasing the model's ability to produce profound, human-like reasoning across diverse fields like group theory, geometry, and operator algebras.

marsbitHá 2h

Breaking! OpenAI's Next-Gen AI Solves 10 Fields Medal-Level Problems

marsbitHá 2h

How to Make Yourself Irreplaceable by AI Forever

This article argues that the primary threat from AI is not job replacement, but remaining trapped in "wage slavery"—financial dependence on employers. The path to becoming irreplaceable is not resisting AI, but becoming an "unemployable" individual who builds their own meaningful enterprise. The author identifies five key elements for this: Agency (acting without permission), Taste (judging what's worthwhile), Persuasion, Persistence, and Iteration. The solution is to stop being a "pawn" in someone else's game. To start, you must fundamentally change your identity and environment, then engage in rapid, real-world trial and error. While both coding and creating media (content) are powerful, content is more crucial. AI can generate assets, but true value lies in subjective, human-driven content that builds trust and narrative. The actionable advice is to carve out 15 minutes to answer foundational questions: 1) Uncover your "raw material"—what you know deeply or solve effortlessly. 2) Define your contrarian perspective—what common beliefs you think are wrong. The intersection of these answers is your direction. Finally, you must launch by publishing your first core idea immediately, using the feedback to iterate and develop the skills needed for a self-directed life and career.

marsbitHá 2h

How to Make Yourself Irreplaceable by AI Forever

marsbitHá 2h

Thanks to Dice Rolls, Bitcoin Keys Are Stored Offline, But Not Everyone Will Do It

The article discusses using dice rolls to generate secure Bitcoin wallet seeds, providing entropy independent of potentially flawed hardware random number generators. It explains that each fair dice roll offers about 2.585 bits of entropy, with around 50 rolls needed for a standard 12-word seed phrase and 99+ recommended for higher security. This method gained attention after a vulnerability was revealed in some Coldcard hardware wallets, where a faulty firmware RNG (dating back to 2021) compromised generated keys. The analysis notes that while a dice-generated main seed was safe from this specific flaw, other Coldcard functions (like creating paper wallets, backup keys, or passwords) could still be vulnerable if they used the defective RNG. The piece argues that while dice-based entropy is technically robust, the manual process is error-prone, tedious, and unrealistic for most new users, who might make mistakes in recording or inputting rolls. It concludes that while manual entropy generation should remain an option for advanced users, the long-term goal is to develop reliable, user-friendly hardware and software that securely generates randomness without requiring specialized knowledge. Coldcard users are advised to check their firmware version and replace any secondary secrets (like paper wallet keys) created with vulnerable devices, while also considering multi-signature setups with devices from different manufacturers for added security.

cryptonews.ruHá 5h

Thanks to Dice Rolls, Bitcoin Keys Are Stored Offline, But Not Everyone Will Do It

cryptonews.ruHá 5h

Trading

Spot
活动图片

Categorias popularesright-arrow

Etiquetas Popularesright-arrow