In a significant development, the Central Bureau of Investigation (CBI) in India has announced the seizure of cryptocurrency valued at 239.4 million Indian Rupees, which translates to approximately 2.75 million USD. This operation is connected to the high-profile Gainbitcoin fraud case, highlighting the ongoing challenges posed by cryptocurrency-related fraud and money laundering in India.
As part of a broader initiative, CBI conducted extensive searches from February 25 to 26, 2025, targeting individuals and entities suspected of engaging in financial crimes involving digital assets. The operation spanned over 60 locations across the country, focusing on major urban centers known for their vibrant economic activities.
Cities that played a critical role in this operation included Delhi, Pune, Nadiad, Kolhapur, Mumbai, Bangalore, Chandigarh, Mohali, Jhansi, and Hubli. The crackdown signifies the Indian government’s serious stance against illicit financial operations, particularly those exploiting the growing appeal of cryptocurrencies.
The Gainbitcoin case has been a longstanding issue, drawing attention due to the massive sums of money involved and the complex nature of the fraud scheme. The authorities are determined to establish a robust regulatory framework to combat such financial malpractices effectively. As the CBI continues its investigations, the global community watches closely, given the implications of this case on the future of cryptocurrency regulation in India and beyond..