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{{Short description|Indian Scammer and convicted fraudster (1983–2022)}}
{{Use dmy dates|date=January 2022}}
{{Infobox person
| honorific_prefix =
| name = Amit Bhardwaj
| birth_name = Amit K. Bhardwaj
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| birth_date = {{birth date|1983|01|17|df=y}}
| birth_place = India
| death_date = {{Death date and age|2022|01|15|1983|01|17|df=y}}
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| alma_mater = [[Mahatma Gandhi Mission's College of Engineering and Technology]]
| occupation = [[Bitcoin miner]], entrepreneur
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| known_for = GB Miners<br/>Amaze Mining and Blockchain Research Limited
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'''Amit K. Bhardwaj''' (17 January 1983 – 15 January 2022) was an Indian who was involved in big scam who founded Amaze Mining and Blockchain Research Limited which ran GB [Gainbitcoin] Miners among other bitcoin-related businesses and projects, these have been described as various types of [[Ponzi scheme]]s.

In April 2018, Gainbitcoin was found to be one of the biggest bitcoin scams.<ref>{{Cite web|url=https://www.hindustantimes.com/pune-news/8-arrested-as-pune-police-unplug-multi-level-marketing-bitcoin-fraud/story-e3Rg02cZLoqjjyBQxJV9CM.html|title=8 arrested as Pune police unplug 'multi-level marketing' bitcoin fraud|date=4 April 2018|website=[[Hindustan Times]]}}</ref> The [[Internet police|cyber cell]] of [[Pune Police]] arrested Bhardwaj and his brothers along with co-founders of GB Miners - Nikunj Jain and Sahil Baghla for running a {{USD|300}} million cryptocurrency Ponzi scheme. Bhardwaj was indicted for running a [[pyramid scheme]] in relation to the MCAP [[token (cryptocurrency)|token]] taken out by Gainbitcoin and was produced before a [[special court]] on 5 April 2018.<ref>{{Cite news|url=https://inc42.com/buzz/two-startup-founders-arrested-in-connection-with-amit-bhardwajs-300-mn-cryptocurrency-ponzi-scheme/|title=Two Startup Founders Arrested In Connection With Amit Bhardwaj's $300 Mn Cryptocurrency Ponzi Scheme|last=Khatri|first=Bhumika|work=Inc42}}</ref><ref>{{Cite news|url=https://factordaily.com/amit-bhardwaj-gb21-gainbitcoin-gbminers/|title=Amit Bhardwaj next wants to take his cryptocurrency MLM scheme international|date=23 January 2018|work=[[FactorDaily]]|access-date=8 March 2018|language=en-US}}</ref>

So far, more than eight people have been arrested and all of them were associated with Gainbitcoin and CEO Bhardwaj.<ref>{{Cite news|url=https://www.thehindu.com/news/national/other-states/bitcoin-fraud-unearthed-in-pune-8-held/article23437801.ece|title=Bitcoin fraud unearthed in Pune, 8 held|first=Shoumojit|last=Banerjee|date=5 April 2018|newspaper=[[The Hindu]]}}</ref>

==Early life and education==
Bhardwaj was born in India on 17 January 1983. He attended [[Kendriya Vidyalaya]] (1998–2000). He later graduated from [[Mahatma Gandhi Mission's College of Engineering and Technology]], [[Nanded]], [[Maharashtra]] (2000–2004) with a [[Bachelor of Technology|B. Tech]] in computer science and engineering.

==Career==
In 2016, Amit founded ''Amaze Mining and Blockchain Research Limited'', an [[altcoin]] [[mining (cryptocurrency)|mining]] technology firm.<ref>[https://www.businesszone.co.uk/community/blogs/smithy/amit-bhardwaj-explains-the-bitcoin-market "Amit Bhardwaj explains the Bitcoin market"], ''businesszone.co.uk'',.</ref> He founded ''GB Miners'', an Indian bitcoin [[mining pool]] in 2016, which was later revealed to be a Ponzi scam.<ref>{{Cite web|date=6 November 2017|title=Cracks appear in Bitcoin Ponzi king Amit Bhardwaj's empire|url=https://factordaily.com/amit-bhardwaj-gainbitcoin-mcap-ethereum/|access-date=13 October 2020|website=FactorDaily|language=en-US}}</ref>

===Gainbitcoin and GBMiners===
In a series of interviews Bhardwaj gave to ''[[The Caravan]]'' in 2017, he first claimed to not have any part in Gainbitcoin and that he knew of it only as a cloud-mining company, but later argued that he hid his involvement as a "PR strategy". He also misrepresented total investment in Gainbitcoin and admitted to inflating the figure on the company's website. Bhardwaj also denied any links between Gainbitcoin and GBMiners, though many of the former's investors believed the latter to be the [[Mining pool|minepool]].<ref>{{Cite web|url=https://caravanmagazine.in/reportage/bitcoin-india-after-demonetisation|title=Promise and peril in the Indian bitcoin economy|last=Thaker|first=Aria|website=[[The Caravan]]|language=en|access-date=15 July 2019}}</ref>

==Personal life and death==
Bhardwaj suffered from several kidney ailments toward the end of his life. He died after suffering a cardiac arrest on 15 January 2022, at the age of 38.<ref>{{cite web|url=https://inc42.com/buzz/gainbitcoin-ponzi-schemess-amit-bhardwaj-dies-from-cardiac-arrest/|title=Amit Bhardwaj: The Man Behind $2.7 Bn Crypto Ponzi Scheme Dies From Cardiac Arrest|work=Inc42|first=Suprita|last=Anapam|date=15 January 2022|access-date=15 January 2022}}</ref>

== See also ==
* [[Bitconnect]], India-based bitcoin Ponzi scheme
* [[Cryptocurrency and crime]]

== Further reading ==
* [https://iica.nic.in/images/GainBitcoin_Cryptocurrency-Scam.pdf GainBitcoin Cryptocurrency Scam]. ''[[Indian Institute of Corporate Affairs]]''.

==References==
{{reflist}}

==External links==
*[https://web.archive.org/web/20170709201809/http://amitbhardwaj.com/ Official Website]

{{DEFAULTSORT:Bhardwaj, Amit}}
[[Category:1983 births]]
[[Category:2022 deaths]]
[[Category:Confidence tricksters]]
[[Category:Indian chief executives]]
[[Category:Indian fraudsters]]
[[Category:Pyramid and Ponzi schemes]]
[[Category:Deaths from kidney disease]]
[[Category:Cybercrime in India]]
[[Category:Kendriya Vidyalaya alumni]]
[[Category:Criminals from Maharashtra]]

Amit Bhardwaj - Revision history

Ajay Kumar: Created a new article