Bitcoin Group India was not a legitimate registered company but the name associated with a large-scale cryptocurrency Ponzi scheme operated primarily between 2016 and 2018. The scheme, masterminded by Amit Bhardwaj and associates under the brand "GainBitcoin," lured investors by promising exceptionally high, guaranteed monthly returns of 10% on their Bitcoin investments. The operation was ultimately exposed as a fraudulent scheme that defrauded thousands of investors of an amount estimated to be in the hundreds of millions to billions of dollars. The founders were subsequently arrested, and the operation was shut down by Indian law enforcement agencies.

Founded in

India