Well now, if it ain’t the Central Bureau of Investigation, hard at work like a dog after a bone! This band of sleuths has turned over more than 60 rocks in their quest to unravel a Bitcoin Ponzi scheme that’s been festering like a foot fungus for the past eight years, raking in a cool 6,606 crores Indian rupees (that’s roughly $75.8 million, folks).
On the good ol’ 25th of February, the CBI went on a raid spree across cities like Delhi, Bengaluru, Pune, and Nanded, sniffing around properties associated with the shady characters involved. It seems they thought it was high time to bring some justice to the wild west of cryptocurrency! 🌪️💰
Chasing behind an unforgettable past
Ah, enter the Bhardwaj Brothers — a pair as notorious as they are crafty! Amit and Vivek, the supposed “Bitcoin gurus,” devised a scheme that was as transparent as a brick wall. They got nearly 8,000 unsuspecting investors to jump on their GainBitcoin bandwagon, which promised returns so juicy they could make a ripe peach blush! 🍑
“The fraudulent scheme lured investors by promising lucrative returns of 10% monthly in Bitcoin for 18 months. Investors were encouraged to purchase Bitcoin from exchanges and invest them with GainBitcoin through ‘cloud mining’ contracts.”
Might as well have been telling folks their money would sprout wings and fly! The police were hot on their trail, and after much hullabaloo, they nabbed the brothers back in 2017. Word on the street was that Amit was the grand puppeteer, while Vivek pranced about like the jester at a crypto carnival.
Indian authorities to continue investigations
To date, eight individuals are sitting in the cooler, thanks to the GainBitcoin shenanigans. Sadly, Amit shuffled off this mortal coil in January 2022, suffering a heart attack while on bail — talk about your poetic justice! ❤️🩹
Commissioner Rashmi Shukla couldn’t help but quip that the Bhardwaj brothers had the upper hand thanks to folks’ lack of crypto know-how. Instead of buying Bitcoin, they were trading it for Ether and Mcap tokens, pocketing the difference for themselves — now that’s what I call entrepreneurial spirit! 😏
The CBI has vowed not to let the dust settle until every last scoundrel involved in this “massive cryptocurrency fraud” is brought to heel. Godspeed, dear investigators; may your search be fruitful and your coffee strong!
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2025-02-26 15:32