Ajay Bhardwaj, the alleged attacker of GainBitcoin, one of the biggest crypto scams in India, has received a clear order from the authorities to bring crucial details to reach a new level in the investigation.
According to CoinDesk, The Supreme Court of India requested one of the accused of one of the country’s most significant Bitcoin scams to unveil the username and password of his digital wallet.
According to the report, the high court ordered Ajay Bhardwaj, one of the key defendants in the GainBitcoin scam, to bring complete depositions before the Enforcement Directorate (ED) of India, an economic intelligence agency in charge of strengthening economic policies and fighting against financial crimes in that nation.
In a hearing held on Monday, the Supreme Court bench, led by Justice DY Chandrachud, asked the defendant to contribute to the investigation and bring vital data such as the crypto wallet username and password.
One of the leading government lawyers in the case, Additional Attorney General Aishwarya Bhati, said that This situation was not related to the legality of digital assets, and the username and password are crucial to clarify the investigations.
The lawyer’s comment references a previous Supreme Court order in an earlier hearing, which had requested that he verbally clarify the legality of digital assets.
Defendant Showed a Cooperative Stance
Ajay Bhardwaj is the brother of Amit Bhardwaj and a co-suspect for the GainBitcoin fraudulent procedure. The brothers got accused in 2018 of allegedly deceiving more than 8,000 people out of $3.8 billion through a multi-level marketing protocol that offered its investors a false 10% return on their Bitcoin deposits over 18 years.
The promise of huge profits attracted many investors, but they never received the promised rewards nor received their initial deposits. The scam raised at least 80,000 bitcoins in what has been called one of India’s most significant crimes related to digital assets.
At the most recent hearing, the defendant alleged that he does not know the username and password of his late brother’s cryptocurrency wallet, according to CoinDesk, which held a conversation with Deepak Prakash, Ajay Bhardwaj’s attorney.
The lawyer highlighted that Ajay Bhardwaj has an almost new digital asset wallet and that he will cooperate with the authorities to bring them that crucial data.
The Supreme Court stopped the provisional arrest warrant held against Bhardwaj in exchange for the defendant’s total contribution to clarify the investigation. According to a previous report led by CryptoPotato, the high court granted Bhardwaj bail in April 2019 and obstructed the ED from any coercive action against the defendant.
The high court heard a petition made by Ajay Bhardwaj to dismiss the charges against him linked to GainBitcoin; It has also extended temporary protection against arrest.
By: Jenson Nuñez
