GainBitcoin

2015-01-01

GainBitcoin scheme launched by Amit Bhardwaj and associates through Variabletech Pte. Ltd. (Singapore), promising 10% monthly Bitcoin returns for 18 months via cloud mining contracts.

2016-01-01

Darwin Labs Private Limited founded in Gurugram by Sahil Baghla, Nikunj Jain, and Ayush Varshney. The firm allegedly develops the full technology stack for GainBitcoin in exchange for a 20% revenue share.

2017-12-01

Bitcoin prices peak; investors begin to realize promised returns are not materializing and that the Ponzi structure is collapsing. GainBitcoin begins switching payouts from Bitcoin to the lower-value MCAP token.

2018-03-30

Amit Bhardwaj arrested by Delhi Police cyber cell and transferred to Pune for questioning.

2018-04-01

Pune Police cyber cell arrests multiple individuals including Darwin Labs co-founders Sahil Baghla and Nikunj Jain. Total arrested reaches at least eight persons.

2018-06-01

Pune Police files two separate chargesheets against Amit Bhardwaj and eight other accused under IPC Sections 120B, 406, 420, and IT Act Section 66.

2018-09-21

Enforcement Directorate attaches assets worth Rs 42.88 crore including six Dubai offices and Indian properties belonging to Amit Bhardwaj and marketing agents.

2019-04-03

Supreme Court grants Amit Bhardwaj interim bail on health grounds, requiring a Rs 10 crore deposit and weekly police station attendance.

2019-07-01

Bombay High Court grants bail to Darwin Labs co-founders Nikunj Jain and Sahil Baghla, ordering them to file affidavits for releasing Rs 25 lakh to investors.

2022-01-15

Amit Bhardwaj dies of cardiac arrest at age 38 while on bail, prior to trial commencing.

2023-12-12

Supreme Court bench led by Chief Justice D.Y. Chandrachud transfers all GainBitcoin FIRs to the CBI and directs trial to be held at Rouse Avenue Court, New Delhi.

2025-02-25

CBI conducts coordinated searches at over 60 locations across India, seizing hardware wallets with Rs 23.94 crore in cryptocurrency, 34 laptops/hard disks, and 121 documents.

2025-09-27

Enforcement Directorate files chargesheet against Raj Kundra before a special PMLA court in Mumbai, alleging he retained 285 bitcoins worth Rs 150 crore received from Amit Bhardwaj.

2026-03-09

Ayush Varshney, co-founder and CTO of Darwin Labs, intercepted at Mumbai airport attempting to depart for Sri Lanka; a Look Out Circular had been issued against him.

2026-03-10

CBI formally arrests Ayush Varshney — the first custodial arrest by the CBI since taking over the case.

2026-04-07

Rouse Avenue Court grants bail to Ayush Varshney, finding no direct evidence that he induced investors or received funds from victims.