Rs 20,000 Cr Bitcoin Scam: Court Seeks CBI Reply On IIT Topper's Bail

RunWithRugs · 2026-03-23T08:58:38+00:00

A court has asked the CBI to respond to Ayush Varshney's bail plea. Varshney, an IIT topper and co-founder of Darvin Lab, was arrested in connection with a Rs 20,000 crore bitcoin scam and is in custody until March 30.

RunWithRugs

2026-03-23 08:58:38

Abstract generation in progress

(MENAFN- AsiaNet News)

A Rouse Avenue court on Friday sought a reply from the Central Bureau of Investigation (CBI) on the plea of accused Ayush Varshney for regular bail. He is in judicial custody till March 30.

Varshney, an IIT topper, was first arrested by the CBI in this case in an alleged bitcoin scam of Rs 20,000 crore. He was allegedly trying to flee to Sri Lanka and was arrested at the airport in view of a lookout circular.

Additional Chief Judicial Magistrate (ACJM) Mayank Goel sought a reply from the CBI and listed the matter for arguements on March 25. Varshney has moved a bail application through advocate Dhruv Gupta.

On March 17, Link Additional Chief Judicial Magistrate (ACJM) Neetu Nagar remanded Ayush Varshney in judicial custody till March 30. He has been arrested in a case registered under sections 406 and 420 of the IPC and the Information Act.

It is stated that the accused is the co-founder of Darvin Lab.

The Gain Bitcoin Scheme

As per CBI, this case is associated with the Gain Bitcoin scheme started in 2015. It is alleged that this scheme was started by Amit Bharadwaj (now deceased), his brother Ajay Bhardwaj and his network. It is alleged that the investors were induced with a return of 10 per cent.

In this matter, several FIRs have been registered by the Delhi Police, with parallel investigations by the Enforcement Directorate. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

MENAFN21032026007385015968ID1110890452

BTC3.34%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.