According to Bitcoin News, the Central Bureau of Investigation in India is conducting a large-scale investigation into the GainBitcoin cryptocurrency scam, raiding over 60 locations within India. The case involves an estimated amount of $75.8 million.
GainBitcoin was a Ponzi scheme initiated by Amit Bhardwaj (deceased) and his brother Ajay Bhardwaj in 2015. They promised investors a monthly return of 10% on their bitcoin through "cloud mining" contracts for a period of 18 months. After it began to collapse in 2017, they switched the payment method from bitcoin to their less valuable internal token MCAP.