CBI Arrests Darwin Labs Co-founder in ₹2000 Billion Bitcoin Scam

The Central Bureau of Investigation (CBI) in India has recently arrested Ayush Varshney, co-founder and Chief Technology Officer of Darwin Labs Private Limited, for his alleged involvement in a large-scale cryptocurrency fraud. According to official sources, the case involves an estimated ₹2000 billion (approximately $24 billion USD) and implicates around 29,000 mined Bitcoins. Victims were allegedly lured by Bitcoin investment schemes promising high returns.

The investigation indicates that Darwin Labs constructed the core technological infrastructure for the scam, including the development of the MCAP crypto token, an ERC-20 smart contract system, and an online platform for fundraising and investor management. The scam dates back to 2015, operating under the name Variabletech Pte Ltd, and included a Bitcoin mining pool and payment gateway, forming a complete fraudulent financial ecosystem. Currently, the CBI is conducting a thorough investigation under various sections of the Indian Penal Code and the Information Technology Act, focusing on tracing the flow of illegally transferred funds and identifying other potential individuals involved. As the investigation progresses, more details are expected to emerge. Notably, this case once again highlights the risks of Ponzi schemes in the crypto space disguised as "high-yield mining" and "Bitcoin wealth management," reminding investors to be wary of unregulated digital asset projects.