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ED probes sharp into multi-crore GainBitcoin scam

The Enforcement Directorate (ED) has intensified its investigation into a major crypto scam worth around Rs 2,000 crore. ED officials had reached the Pune Police Commissioner’s office on Monday to get some papers and information related to this almost four-year-old case. Cybercrime expert Pankaj Ghode and former police officer Ravindra Patil are also being questioned in this case. They have been arrested and charged with tampering with evidence and stealing 1,137 bitcoins while working on an initial case of a crypto scam.

of CryptoPotato Report As per reports, both of them were given the responsibility of unearthing this big scam involving Amit Bhardwaj. Bhardwaj is accused of running a multilevel marketing (MLM) called GainBitcoin, in which bitcoin It was promised a monthly return of 10 percent on investment. Both of them are accused of transferring bitcoins worth crores of rupees from Bhardwaj to their personal crypto wallets and giving false screenshots to other officials working on the matter. Both of them stole bitcoins worth about Rs 354 crore.

On checking the KYC details of Bhardwaj by senior officials, it was found that the sire crime expert appointed by him and a police officer also erred. After this, both of them were arrested in early March. The Supreme Court on Monday reprimanded Bharadwaj for not complying with the ED’s direction and not disclosing the details of the crypto wallet. The court had said, “Don’t try to confuse us.” Simultaneously, Bharadwaj was instructed to reveal the password of his crypto wallet to ED.

There has been an increase in crypto scams in recent months. Late last year, the crime branch of Rajkot in Gujarat arrested two people for duping 17 people to the tune of Rs 38 lakh by luring them to higher returns on investment in cryptocurrencies. Earlier this year, a Bengaluru-based crypto investor lost over Rs 2 crore in a scam. There has also been a spurt in cases of cryptocurrency-related scams abroad, causing millions of dollars in damages.

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