A cryptocurrency expert and author Amit Bharadwaj was arrested at Delhi Airport yesterday over a scam of $3000. He was returning from Bangkok was involved in a scam.
Gain Bitcoin, GB Minors and GB21 are the three companies by Amit. They have been under the police scanners for a few months now for being part of the multi-level marketing “MLM program”. This program promised enrolled members to invest, which eventually gave them a cut or commission. The investors were also promised a high rate of returns on their investment but it turned out to be a complete lie.
Pakistan, Ukraine, Russia, Indonesia are a few countries where his sources are said to be involved. The investors are trying to build up a strong case. Hence, Amit’s case is under a lot of scrutinization for now.
Police spokesperson issued a statement that:
“We are waiting to get our hands on the physical data and after that, we would be able to figure out the exact number of bitcoins involved in this case. But we estimate that it could be anything between one lakh to five lakh bitcoins.”
Amit Bharadwaj has been doing the scam for years now and was trusted by a lot of people. He was the first one to introduce India’s first virtual marketplace accepting Bitcoin and HighKart. He owes a lot of mining operations. Thus it is high time people educate themselves about cryptocurrency.