GainBitcoin
An India-based Bitcoin Ponzi launched in 2015 by Amit Bhardwaj, promising 10% monthly returns for 18 months via an MLM model. India's Enforcement Directorate alleged ~80,000+ BTC was collected; loss estimates vary widely. Bhardwaj was arrested in 2018 and died in 2022.
Also known as: GainBitcoin, GBMiners, Amit Bhardwaj, MCAP
Summary
GainBitcoin was an India-based Bitcoin Ponzi scheme launched in 2015 by Amit Bhardwaj (alongside the mining brand GBMiners). It promised investors a 10% monthly return for 18 months on Bitcoin "mining" investments, paid in Bitcoin, through a multi-level-marketing model. [1][2]
Scale and aftermath
India's Enforcement Directorate alleged the operation collected around 80,000+ BTC from thousands of investors; loss estimates vary widely (from roughly $300 million to, by some later accounts, far higher). When Bitcoin ran short, investors were pushed into an in-house token, MCAP, listed mainly on Bhardwaj-controlled venues. Bhardwaj was arrested in 2018 and died in 2022; proceedings against associates have continued. [1][2][3]
Bracketed numbers refer to the numbered sources listed below.
Sources (3)
See also
World Liberty Financial (WLFI) — Justin Sun token freezeProjectsWLFI, a DeFi project linked to Donald Trump and his family, blacklisted/froze the wallet of major investor Justin Sun in Sept 2025 — ~540–595M unlocked WLFI tokens (~$107M) plus ~2.4B locked. Sun sued, alleging an undisclosed admin 'blacklist backdoor'; WLFI denied it and threatened a countersuit. The dispute is ongoing.
Gala Games exploitTokensOn May 20, 2024 an attacker abused a privileged minter account on the GALA token contract to mint 5 billion GALA (≈$200M+ nominal) and dumped ~600M of them for ~$22M of ETH before Gala froze the address. Gala Games called it an internal access-control failure; the attacker later returned the ~$22M.
This page was last updated on Jun 15, 2026. View revision history.
