GainBitcoin scam case: CBI seizes cryptocurrencies worth over Rs 23.94 crore

NEW DELHI: The CBI has seized cryptocurrencies worth more than Rs 23.94 crore during its two-day countrywide search operation in the GainBitcoin scam case that concluded on Wednesday, officials said. The central probe agency has also seized multiple hardware crypto wallets, 121 documents, 34 laptops and hard disks, 12 mobile phones and multiple email and instant messaging application dumps, they said. Following the nationwide searches conducted on February 25 and 26 in connection with the GainBitcoin cases, the Central Bureau of Investigation (CBI), using in-house capabilities, has seized significant incriminating evidence and virtual digital assets, further unravelling the extent of the cryptocurrency fraud, a spokesperson said in a statement. The agency has sent the electronic devices for forensic analysis to uncover further details regarding the misappropriation of funds and potential international transactions linked to the scam, the officials said. The CBI launched the search operation at 60 locations in Delhi, Pune, Nanded, Kolhapur, Mumbai, Bengaluru, Chandigarh, Mohali, Jhansi, and Hubli on Tuesday as part of its probe into the scam. The operation concluded on Wednesday. The ponzi scam was perpetrated through a web of platforms, including flagship site www.gainbitcoin.com, was allegedly masterminded by Amit Bhardwaj (now deceased) and his brother Ajay Bhardwaj, the officials said. Launched in 2015, the illicit operation was camouflaged under the facade of Variable Tech Pvt. Ltd, they said. The investors were lured by the offer of a 10 per cent monthly return in Bitcoin over 18 months. They were urged them to purchase the digital currency from external exchanges and deposit it with GainBitcoin through cloud mining contracts, the central agency said. The model followed a multi-level marketing (MLM) structure, commonly associated with pyramid-structured ponzi schemes where payouts are dependent on bringing in new investors, the spokesperson said. In its early days, investors received payouts in Bitcoin, fuelling the illusion of a lucrative venture. However, as the influx of new capital dwindled by 2017, the charade began to crumble. In an attempt to cover up the losses, GainBitcoin unilaterally switched payouts to their alleged in-house cryptocurrency called MCAP, which had significantly less value than Bitcoin, further misleading investors, the statement said. The scale and complexity of the scam resulted in the registration of multiple FIRs across India, from Jammu and Kashmir to Maharashtra and from Delhi to West Bengal. The Supreme Court had handed over the investigation into the case to the CBI due to the expansive nature of the operation and the international ramifications it entailed. The agency has launched a probe to unravel the full extent of the fraudulent activities, identify all implicated parties and trace the misappropriated funds, including those that may have crossed borders.

Photo Of Tipu Sultan Tableau At The Republic Day Parade Is From 2014

A photo from 2014 showing Tipu Sultan in Karnataka's tableau for the then Republic Day parade is viral claiming it is recent from 2025 celebrations held in Delhi. BOOM found that the picture is not recent but from 2014. In the 2025 Republic Day Parade, the Karnataka government's theme for the tableau was the historic town of Lakkundi, located in the Gadag district. In the viral photo, a tableau featuring Tipu Sultan holding a sword upward in his hand can be seen with the name of the state 'Karnataka' in Hindi. A Facebook user posted the picture with a caption, Tipu sultan. Most powerful and most iconic movment of Republic day parade. 26 January 2025. (sic) Click here to view the post. Fact Check BOOM ran a reverse search on the photo and found an article published by India Today on January 26, 2014, carrying the same photo. The article reported about the controversy surrounding the Karnataka government's decision at the time to feature Tipu Sultan in the Republic Day parade in New Delhi. Taking a cue, we ran a related keyword search on Doordarshan National's official YouTube channel and found that visuals of Karnataka's tableau at the Republic Day parade were streamed live on January 26, 2014. The tableau featuring Tipu Sultan's portrait, presented by the then Karnataka government at the 65th Republic Day parade, can be seen starting from the 2:00:20 timestamp. Karnataka's 2025 Republic Day Parade Theme: Lakkundi According to a press release by the Ministry of Defence published on January 22, 2025, the current Karnataka government chose the theme Lakkundi: Cradle of Stone Craft. DD News on January 26, 2025, reported that Karnatakas tableau celebrated the historic town of Lakkundi, located in the Gadag district. The report says, The town, situated 70 kilometers from Hubli City, is renowned for its intricately carved temples, stepwells, and inscriptions from the Chalukya dynasty. The tableau also highlighted the exquisitely carved temples and ornate pillars of the Nanneswara temple. The tableau depicted the architectural marvels and the regions cultural legacy, showcasing its importance as a destination for history enthusiasts and tourists exploring Karnatakas culturally rich heritage. The visuals of Karnataka's tableau in the 2025 Republic Day parade can be viewed on Doordarshan National's official YouTube channel's live stream from the 2:32:00 timestamp onwards. (This article was first posted by BOOM Live and re-shared by Deccan Chronicle as part of the Shakti Collective Fact Check initiative).

Education key to progress, says Farooq

VIJAYAWADA: Minister for law and minority welfare N. Md Farooq, emphasised the paramount importance of education for success in any field. The birth anniversary of Sheikh Fatima, Indias first Muslim woman teacher and a role model for the community was celebrated at the Secretariat in Velagapudi on Thursday. After offering floral tributes to her portrait, the minister spoke about her historic contributions alongside Mahatma Jyotirao Phule and Savitribai Phule in advancing womens education. Farooq noted that, despite facing numerous challenges and even physical assaults during her mission, Sheikh Fatima emerged as a beacon of inspiration for future generations. He stressed that it is vital for minority communities and the public to prioritise education, which facilitates progress in various fields. The minister also reiterated the state governments commitment to the welfare and development of minorities. In recognition of Sheikh Fatimas efforts in educating girls, Farooq announced that a detailed account of her life and struggles has been incorporated into the Telugu textbooks for eighth grade, ensuring she receives due honour. Later, the minister attended the first day of the 428th Urs-Mubarak festival of Hazrat Syed Shah Bukhari (R.A.) in Kondapalli village near Vijayawada. Celebrated over three days, the festival is organised on a grand scale by the local community. During his visit, Farooq paid his respects at the historic dargah by presenting a chadar. The event was also attended by Farooq Shubli, the state president of the Muslim Rights Protection Committee, along with various Muslim religious leaders.

Puri, Varanasi, Haridwar top spiritual destinations in 2024, Hyderabad most-booked city:OYO report

New Delhi: Puri, Varanasi and Haridwar are the most travelled spiritual destinations while Hyderabad is India's top-booked city this year, according to OYO's 'Travelopedia 2024' annual report unveiled on Tuesday.The report delves into travel patterns and trends, with its findings based on the booking data of the travel tech major for the entire year. In India, religious tourism continued to be a key focus, with Puri, Varanasi, and Haridwar dominating the pilgrimage sector. However, a significant trend emerged with Deoghar, Palani, and Govardhan experiencing substantial growth, indicating a shift towards less explored spiritual destinations...OYO stated. Following Hyderabad, cities like Bengaluru, Delhi, and Kolkata rounded out the top spots for bookings, with Uttar Pradesh maintaining its position as the most popular state for travel. High volume of bookings were reported from Maharashtra, Telangana, and Karnataka, which continue to be dominant travel contributors. Smaller towns like Patna, Rajahmundry, and Hubli have shown tremendous growth, with bookings increasing by as much as 48 per cent year-on-year. The year also saw a surge in leisure travel, with Jaipur continuing to be a top tourist magnet, followed by perennial favourites Goa, Pondicherry, and Mysore. Interestingly, Mumbai saw a drop in bookings, with travellers preferring nearby locations for leisure, OYO stated. Shreerang Godbole, Global Chief Service Officer, OYO said, 2024 has marked a year of transformation in the global travel landscape. We've seen how travellers are embracing flexibility and adaptability, whether for business or leisure. As remote work trends continue to shape how people approach travel, the demand for both quick getaways and long stays has been a significant driver of bookings this year. The fourth of July weekend saw the highest number of bookings, aligning with national celebrations, while the Christmas season was also notable for a sharp spike in travel.