{"id":21912,"date":"2025-02-26T08:59:40","date_gmt":"2025-02-26T03:59:40","guid":{"rendered":"https:\/\/vglobenews.com\/?p=21912"},"modified":"2025-02-26T08:59:40","modified_gmt":"2025-02-26T03:59:40","slug":"cbi-raids-60-locations-in-massive-gainbitcoin-crypto-scam-crackdown","status":"publish","type":"post","link":"https:\/\/vglobenews.com\/?p=21912","title":{"rendered":"“CBI Raids 60+ Locations in Massive GainBitcoin Crypto Scam Crackdown”"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

CBI Raids Over 60 Locations Across India in GainBitcoin Scam Probe<\/strong><\/h3>\n\n\n\n

New Delhi:<\/strong> The Central Bureau of Investigation (CBI)<\/strong> is conducting extensive search operations at over 60 locations<\/strong> across India as part of its ongoing probe into the GainBitcoin cryptocurrency scam<\/strong>. The coordinated raids are taking place in Delhi NCR, Pune, Chandigarh, Nanded, Kolhapur, Bengaluru<\/strong>, and other cities, targeting premises linked to key accused individuals, their associates, and entities suspected of laundering the proceeds of crime.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Background of the GainBitcoin Scam<\/strong><\/h3>\n\n\n\n

GainBitcoin was an alleged Ponzi scheme<\/strong> launched in 2015<\/strong> by Amit Bhardwaj (deceased)<\/strong>, along with Ajay Bhardwaj<\/strong> and a network of agents. The scheme operated under multiple websites, including www.gainbitcoin.com<\/strong>, and was run through a Singapore-based company, Variabletech Pte. Ltd.<\/strong><\/p>\n\n\n\n

The fraudulent operation lured investors by promising lucrative returns of 10% per month in Bitcoin for 18 months<\/strong>. Investors were encouraged to purchase Bitcoin from exchanges and invest them with GainBitcoin through so-called “cloud mining” contracts<\/strong>. The model followed a multi-level marketing (MLM)<\/strong> structure, akin to a pyramid scheme, where returns depended on enrolling new investors.<\/p>\n\n\n\n

Initially, investors received payouts in Bitcoin, but as the inflow of fresh investments declined by 2017<\/strong>, the scheme began to collapse. In an attempt to cover losses, GainBitcoin switched payouts to its in-house cryptocurrency, MCAP<\/strong>, which had significantly lower value<\/strong> than Bitcoin, further defrauding investors.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

CBI Investigation and Recent Developments<\/strong><\/h3>\n\n\n\n

Multiple FIRs<\/strong> were registered across India, alleging large-scale fraud and money laundering<\/strong>. Given the widespread nature<\/strong> of the scam, cases from Jammu & Kashmir, Punjab, Chandigarh, Delhi, West Bengal, Madhya Pradesh, Karnataka, and Maharashtra<\/strong> were transferred to the CBI<\/strong> following a directive from the Supreme Court of India<\/strong>.<\/p>\n\n\n\n

As part of its comprehensive investigation<\/strong>, the CBI is working to:<\/p>\n\n\n\n

    \n
  • Uncover the full extent of the fraud<\/strong><\/li>\n\n\n\n
  • Identify all accused parties<\/strong><\/li>\n\n\n\n
  • Trace the misappropriated funds<\/strong>, including suspected international transactions<\/strong><\/li>\n<\/ul>\n\n\n\n
    \"\"<\/figure>\n\n\n\n

    During the ongoing searches, officials have seized multiple cryptocurrency wallets, incriminating digital evidence, and electronic devices<\/strong>. Investigators have also secured email and cloud-based records<\/strong> that could provide further insights into the scam’s operations.<\/p>\n\n\n\n

    The CBI has reaffirmed its commitment<\/strong> to conducting a thorough and impartial investigation<\/strong> and bringing those responsible for this massive cryptocurrency fraud<\/strong> to justice. The investigation is ongoing<\/strong>, with more developments expected in the coming days.<\/p>\n","protected":false},"excerpt":{"rendered":"

    CBI Raids Over 60 Locations Across India in GainBitcoin Scam Probe New Delhi: The Central Bureau of Investigation (CBI) is conducting extensive search operations at over 60 locations across India as part of its ongoing probe into the GainBitcoin cryptocurrency scam. The coordinated raids are taking place in Delhi NCR, Pune, Chandigarh, Nanded, Kolhapur, Bengaluru, […]<\/p>\n","protected":false},"author":1,"featured_media":21907,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[19,14,15],"tags":[1797],"class_list":["post-21912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crime","category-international","category-national","tag-cbiraids-gainbitcoinscam-cryptofraud-bitcoinscam-ponzischeme-cryptocurrency-moneylaundering-cryptoinvestigation-indianews-breakingnews"],"yoast_head":"\n"CBI Raids 60+ Locations in Massive GainBitcoin Crypto Scam Crackdown" - VGlobe News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vglobenews.com\/?p=21912\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\""CBI Raids 60+ Locations in Massive GainBitcoin Crypto Scam Crackdown" - VGlobe News\" \/>\n<meta property=\"og:description\" content=\"CBI Raids Over 60 Locations Across India in GainBitcoin Scam Probe New Delhi: The Central Bureau of Investigation (CBI) is conducting extensive search operations at over 60 locations across India as part of its ongoing probe into the GainBitcoin cryptocurrency scam. The coordinated raids are taking place in Delhi NCR, Pune, Chandigarh, Nanded, Kolhapur, Bengaluru, […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/vglobenews.com\/?p=21912\" \/>\n<meta property=\"og:site_name\" content=\"VGlobe News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/vglobenews.flow\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-26T03:59:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/vglobenews.com\/wp-content\/uploads\/2025\/02\/gettyimages-866164346_wide-2df451e9702322357b0f4a4e38f8dde5096e9bc9-1200x675-1.jpg?fit=1200%2C675&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"VGlobe News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@VGlobeNews7\" \/>\n<meta name=\"twitter:site\" content=\"@VGlobeNews7\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"VGlobe News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/vglobenews.com\\\/?p=21912#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/vglobenews.com\\\/?p=21912\"},\"author\":{\"name\":\"VGlobe News\",\"@id\":\"https:\\\/\\\/vglobenews.com\\\/#\\\/schema\\\/person\\\/616b595b869ea3529a40ee29148fe1b8\"},\"headline\":\"“CBI Raids 60+ Locations in Massive GainBitcoin Crypto Scam Crackdown”\",\"datePublished\":\"2025-02-26T03:59:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/vglobenews.com\\\/?p=21912\"},\"wordCount\":379,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/vglobenews.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/vglobenews.com\\\/?p=21912#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/vglobenews.com\\\/wp-content\\\/uploads\\\/2025\\\/02\\\/gettyimages-866164346_wide-2df451e9702322357b0f4a4e38f8dde5096e9bc9-1200x675-1.jpg?fit=1200%2C675&ssl=1\",\"keywords\":[\"#CBIRaids #GainBitcoinScam #CryptoFraud #BitcoinScam #PonziScheme #Cryptocurrency #MoneyLaundering #CryptoInvestigation #IndiaNews #BreakingNews\"],\"articleSection\":[\"Crime\",\"International\",\"National\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/vglobenews.com\\\/?p=21912#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/vglobenews.com\\\/?p=21912\",\"url\":\"https:\\\/\\\/vglobenews.com\\\/?p=21912\",\"name\":\"\\\"CBI Raids 60+ Locations in Massive GainBitcoin Crypto Scam Crackdown\\\" - 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