The Tentral Bureau of Investigation (CBI), Using in-House Capability, Seated Significant Incriminating Evidence and Virtual Digital Assets, Unraveling the Extension of the Extension of the Cryptocurrency Fraloing Nationwide Searches Conducted on February 25-26 in Connection with the GainbitCoin Scam Cases.
This come after the CBI Conducted RAIDS at Over 60 Locations Across Major Cities, Including Delhi, Pune, Nanded, Kolhapur, Mumbai, Bengaluru, Chandigarh, Mohali, Jhansi, and Hubli, Investigation into the gainbitcoin scam.
The fraudulent scheme, launched in 2015 by amit bhardwaj (December) Along Bitcoin Investments for 18 months.
The scheme is followed a Multi-Level Marketing (MLM) Structure, Enticing Investors through Lucrative Commissions for Referrals.
Initial payouts were made in bitcoin; However, as the scheme collapsed in 2017, Payouts was switched to an in-House Cryptocurrency, MCAP, which had significantly lower value, further defrauding investors.
During these searches, cbi seized Cryptocurrencies Worth Rs 23.94 brors, Multiple Hardware Crypto Wallets, 121 Documents, 34 Laptops and Hard Disks, 12 Mobile Phones and Multiple Email and Instant Messaging App Dumps.
The seized documents and electronic devices are currently under analysis to uncover further details Regarding the Misappropiation of Funds and Potential International Transactions Linked to the scam.
As per an official release, the CBI Remains Committed to Conducting a Comprehensive and Importial Investigation into the GainbitCoin Scam and Bringing the perpetrators to justice.
An Investigation is Underway Into The Matter.
(This story has not been edited by ndtv staff and is auto-generated from a syndicated feed.)
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