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 arrests made in country where the police raided a mining facility, whose operators conned many victims into connection with the GainBitcoin.com.
The news from the source quotes also unidentified two police officer as suspects in Delhi that were concerned in promoting the scam to thousands of investors across the country. The officers in-charged of this case said:
“These two men were said involved in the promoting of the theme that they had lured many folks. We have investigating the case and also are checking out the amount of individuals that are 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 2015 as a MLM scheme and it grew to over thousand of investors, all of whom were promised a secure monthly return of about 10% of their total investment made.
The scam came to light when the FIR’s were filed against GainBitcoin company in April this year, followed by another FIR’s filed in an exceedingly totally different town. Authorities forthwith regarded this as an MLM operation that was being ran across the country. The authorities swooped in when a victim complained against GainBitcoin.
During the preliminary investigation, officers from the cyber crime cell at the Indian town of Pune discovered the wallets controlled by Bhardwaj, that was same to contain a complete balance of bitcoins. The authorities conjointly contacted Zebpay (a crypto currency exchange in the country) bid to induce an inquiry when determinant that “a massive volume of transactions between the victims and Bhardwaj occurred via 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 enthused concerning the concept as they demanded to be paid in today’s value.
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