According to a news reporting by Times of India, Two additional police men have been arrested in the case concerned with the Gain Bitcoin Ponzi scheme.
This news of arrest arrised from a series of arrestsmadeincountrywherethe police raided a mining facility, whose operators connedmanyvictims intoconnection with the GainBitcoin.com.
The news from the source quotes alsounidentified two policeofficerassuspects in Delhi that wereconcernedinpromotingthe scam to thousands of investors across the country. The officers in-charged of this case said:
“These two men weresaid involvedin the promotingof thethemethat they hadluredmanyfolks.We have investigatingthe case andalso arechecking outthe amountof individualsthatare duped,”
Estimated a scam of over $300 Mln’s, these two official police men arrested are said to be in close connection with Amit Bhardwaj – the master mind planner behind this ponzi scheme.
GainBitcoin was launched back in year 2015as a MLMschemeand it grew to overthousand of investors, all of whom were promised a secure monthly return of about 10% of their total investment made.
The scam came tolightwhen the FIR’s were filed against GainBitcoin company inApril this year, followed by another FIR’s filedin an exceedinglytotally differenttown. Authoritiesforthwithregarded this as an MLM operation that was being ran across the country. The authorities swooped inwhena victim complained against GainBitcoin.
During the preliminary investigation,officersfrom the cyber crime cell at the Indiantownof Pune discovered the wallets controlled by Bhardwaj,thatwassameto containa completebalanceof bitcoins. The authoritiesconjointlycontacted Zebpay (a crypto currency exchange in the country) bidto inducean inquirywhendeterminantthat “amassivevolume of transactions between the victims and Bhardwajoccurredvia its platform.”
As per recent reports, Bhardwaj also offered to repay investors their initial bitcoin investments in their corresponding Indian rupees. The victims were, however, not enthusedconcerningthe conceptas they demanded to be paid in today’svalue.