Bitcoin scam case: ED conducts raid at 6 locations including Delhi in Rs 20,000 crore fraud

In the Rs 20,000 crore Bitcoin scam case, Enforcement Directorate (ED) raided 6 locations including Delhi till late Wednesday evening. The investigating agency is carrying out a major action on the allegations of defrauding about 80,000 investors. During the raid, ED seized important evidences and documents including other electronic devices.

According to a senior official of the ED headquarters, investigation is going on in the case related to Amit Bhardwaj, his brother Ajay Bhardwaj and many other accused. Amit Bhardwaj has passed away, but  investigation is being conducted on other accused including Sanchit Alag and Sehrawat.

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According to ED sources, during the raids conducted on Wednesday, several officers and lawyers associated with a law firm based in Delhi were also raided. Since the investigation is going on in the case, the name of that law firm is not being disclosed. But very important documents were found during the raids which are being scrutinized. 

Supreme Court directions violated

The hearing of the Bitcoin scam case is going on in the Supreme Court. During the hearing, the apex court had given a direction to the accused and said that the information of the user name and password related to bitcoin currency should be shared to the investigators of ED because this is a matter related to about 80,000 investors.

However, that instruction has not yet been followed by the accused. Therefore, for this reason also the process of raiding has been carried out. 

How Amit Bhardwaj became the king of biggest bitcoin mining operation

Cryptocurrency is a type of virtual or digital currency. There are many types of cryptocurrencies, including Bitcoin. The credit for launching this currency in India goes to Amit Bhardwaj. He opened the first online retail marketplace in 2014, through which Bitcoin was accepted.

Amit Bhardwaj duped thousands of people by launching a new Bitcoin named Mcap. His mining operation was also run from countries like China (Gain Bitcoin) and Hong Kong (GB Miners). Therefore, to increase this business further through that technology, a new bitcoin was launched by the name of Mcap. But thousands of people were duped in its name too.

A case was also registered in this matter by the Economic Offenses Wing (EOW) of Delhi Police. Its investigation is being done under the guidance of DCP KPS ​​Malhotra. If sources in the Economic Offenses Wing are to be believed, then on the basis of the FIR registered in the Delhi Police, action will be taken soon after further investigation by filing a supplementary chargesheet.