CBI Arrests Darwin Labs Co-Founder Ayush Varshney Over GainBitcoin Multi‑Crore Scam
Key Takeaways
- Ayush Varshney, Darwin Labs co-founder, was arrested by India’s CBI.
- Darwin Labs developed the MCAP token, smart contracts, and platforms used in GainBitcoin.
- CBI’s arrest links Darwin Labs' technology directly to the multi-crore GainBitcoin scam.
Arrest and role
India’s Central Bureau of Investigation (CBI) has arrested Ayush Varshney, identified in reporting as co‑founder and Chief Technology Officer of Darwin Labs Private Limited, in connection with the GainBitcoin cryptocurrency fraud.
“CBI Arrests Darwin Labs Co-Founder in Multi-Crore GainBitcoin Scam Share: - Ayush Varshney, co-founder of Darwin Labs, has been arrested by India’s CBI in the GainBitcoin multi-crore scam”
CryptoRank reports that Darwin Labs developed the MCAP token, smart contracts and platforms that were used in the alleged GainBitcoin operation, and states the arrest was announced by CBI officials on Wednesday.
Scale and investor impact
Authorities say the GainBitcoin scheme is large in scale: CryptoRank reports the alleged scam is now estimated at least ₹20,000 crore and is believed to involve around 29,000 mined bitcoins.
Investors were reportedly lured with promises of high returns from Bitcoin‑linked investments.
Flight attempt and tech role
The CBI had issued a Look Out Circular for Varshney after he went into hiding; CryptoRank says immigration officials at Mumbai airport stopped him on March 9 when he was allegedly attempting to leave India and he was formally arrested the following day.
“CBI Arrests Darwin Labs Co-Founder in Multi-Crore GainBitcoin Scam Share: - Ayush Varshney, co-founder of Darwin Labs, has been arrested by India’s CBI in the GainBitcoin multi-crore scam”
The agency’s account ties Darwin Labs to the technological infrastructure of the operation, saying the company created the MCAP token along with ERC‑20 smart contracts and platforms used by the scheme.
Origins and limitations
CryptoRank also reports that the operation dates back to a 2015 launch under the façade of Variabletech Pte Ltd and that the scheme included a Bitcoin mining pool, payment gateway and investor portal;
authorities say the CBI probe into Darwin Labs’ involvement is ongoing.
Note: the user requested multiple-source perspectives, but only the CryptoRank piece was provided for this summary, so additional independent or alternative-source viewpoints are not available here.
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