The Central Bureau of Investigation (CBI), India's national crime investigation agency, carried out searches at more than 60 locations in connection to an eight-year-old Bitcoin (BTC) Ponzi scheme investigation involving 6,606 crore Indian rupees ($75.8 million). On February 25, the CBI announced a nationwide raid in major Indian cities as part of their probe into the GainBitcoin cryptocurrency scam. Authorities are currently conducting search operations in Delhi, Bengaluru, Pune, and Nanded, among other cities, on properties linked to key suspects in the case. The GainBitcoin scam was orchestrated by the Bhardwaj Brothers - the notorious Bitcoin evangelist Amit Bhardwaj and his brother, Vivek Bharadwaj. The duo allegedly scammed around 8,000 investors through GainBitcoin, an investment scheme offering 10% monthly returns in Bitcoin for 18 months. Amit Bhardwaj was considered the mastermind behind GainBitcoin, while his brother was accused of promoting and marketing the scams at crypto events. Despite the arrest of eight individuals in connection to the GainBitcoin scam, Amit Bhardwaj passed away in January 2022 while on bail. Police Commissioner Rashmi Shukla disclosed that the Bharadwaj brothers exploited the lack of knowledge about cryptocurrencies to carry out their fraudulent activities. The CBI has reiterated its commitment to thoroughly investigate until all those involved in the "massive cryptocurrency fraud" are brought to justice.