
The Pune Police reportedly launched an investigation into an alleged multi-crore cryptocurrency fraud and arrested BitConnect founder Satish Kumbhani.
The investigation began after a Pune-based lawyer filed a first information report (FIR) at a local police station, alleging that he lost nearly 220 Bitcoins worth INR 42 Cr through multiple cryptocurrency platforms. The FIR, which named Kumbhani and six others as suspects in the alleged fraud, stated that the complainant invested INR 49 Lakh in 54 Bitcoins in 2016 and was allegedly promised 166 Bitcoins in return. Between 2016 and June 2021, the lawyer was allegedly forced to reinvest in various other Ponzi schemes.








