New Delhi: In a development seen as a major success the country’s security agencies have seen, an Indian Divyesh Darji has been arrested at the Delhi airport for his alleged involvement in a bitcoin fraud case after he was deported from Dubai at the request of Indian authorities.

Darji and his three associates established a bitcoin investment company name Bitconnect Limited in 2016 registered in the UK. The company had launched a website bitconnect[dot]co, in partnership with Manav Marketing, for people to invest in bitcoins.

After reportedly collecting thousands of crores of from investors with the promise of converting them into bitcoins or online cyrpto-currency, the website was abruptly shut down in January 2018.

Some reports suggest that the businessman and his associates may have duped people of more than Rs 80,000 crore in a span of a few years in the name of giving them higher returns in form of bitcoin.

Darji is currently being interrogated by a Special Investigation Team (SIT) of Gujarat Police. Investigations into this case are expected to throw up significant leads and expose the modus operandi pertaining to bitcoin fraud, which is a relatively new offence in India.

The world over, cryptocurrencies have been facing sanctions from different governments such as China, Singapore and South Korea over various issues.

The Union government has been trying hard to ensure the extradition of economic offenders such as Nirav Modi and Mehul Choksi of the case of PNB bank fraud scam along with former Kingfisher owner Vijay Mallya who has been hiding in the United Kingdom for a long time.