Court Seeks CBI Response on Ayush Varshney's Bail Plea in Bitcoin Scam Case
The Rouse Avenue Court has called for a response from the CBI regarding Ayush Varshney's bail application linked to a significant Bitcoin scam. Varshney, who remains in custody until March 30, was arrested for allegedly attempting to flee to Sri Lanka. The case involves a scheme promising high returns to investors, initiated by a now-deceased individual and his associates. The next hearing is set for March 25, as the investigation continues to unfold.
Mar 21, 2026, 15:28 IST
Court Proceedings on Ayush Varshney's Bail Application
The Rouse Avenue Court has requested a response from the Central Bureau of Investigation (CBI) regarding the regular bail application of accused Ayush Varshney. Currently, Varshney remains in judicial custody until March 30. He was initially arrested by the CBI in connection with an alleged ₹20,000 crore Bitcoin scam. Varshney is accused of attempting to flee to Sri Lanka and was apprehended at the airport under a lookout circular. Additional Chief Judicial Magistrate (ACJM) Mayank Goyal has scheduled the next hearing for March 25, following the CBI's response. Varshney's bail plea was submitted through his lawyer, Dhruv Gupta.
Details of the Case Against Varshney
On March 17, ACJM Neetu Nagar ordered Ayush Varshney to remain in judicial custody until March 30. He has been arrested under sections 406 and 420 of the Indian Penal Code, as well as the Information Technology Act. Reports indicate that Varshney is a co-founder of Darwin Labs.
Background of the Bitcoin Scam Investigation
According to the CBI, this case is linked to the Gain Bitcoin scheme that began in 2015. It is alleged that the scheme was initiated by Amit Bhardwaj (now deceased), his brother Ajay Bhardwaj, and their network. Investors were reportedly lured with promises of a 10% return. The Delhi Police has filed multiple FIRs in this matter, while the Enforcement Directorate is conducting a parallel investigation.