The Central Bureau of Investigation (CBI) has arrested a person in connection with the GainBitcoin cryptocurrency fraud case. The arrested accused is co-founder and CTO of Darwin Labs Private Limited. The CBI informed that a Look Out Circular was issued against the accused as he was absconding and on last Monday he was intercepted by Immigration authorities at Mumbai while attempting to leave the country. The accused was arrested by the CBI yesterday. 

 

The agency said that the case pertains to the alleged GainBitcoin Ponzi scheme floated by Variabletech Pte. Ltd., where investors were induced to invest in a fraudulent cryptocurrency scheme on the promise of high returns and the collected funds were subsequently misappropriated. The CBI added that during the course of investigation, the role of Darwin Labs Private Limited and its co-founders, emerged in relation to the design, development and deployment of the crypto token and the company was instrumental in developing the entire technological infrastructure of the fraudulent scheme.