From Investing.com:

Nikhil Mahajan, an executive of Katalyst Entertainment, was detained by India’s ED for his involvement in a ₹6,606 crore Bitcoin scam. The scam, linked to Variabletech PTE Ltd and the Bhardwaj brothers, operated as a Ponzi scheme promising high returns to investors. Mahajan allegedly promoted the scheme and received 40 Bitcoins for his services.

The scam funneled investor funds into opaque online wallets, resulting in significant financial losses. Authorities continue to investigate the fraudulent activities associated with the Bhardwaj brothers and their associates. Mahajan is ordered to remain in custody until January 25 as the case unfolds.

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