TechFlow news, on June 23, according to The Block, Self Chain has officially terminated Ravindra Kumar as CEO following allegations that he was involved in a $50 million cryptocurrency over-the-counter (OTC) fraud scheme. The scam offered heavily discounted token trades via Telegram, initially paying returns to early investors to attract more funds, eventually evolving into a classic Ponzi scheme. Although Kumar denies the allegations and stated he will respond through legal counsel, Self Chain announced he will no longer be affiliated with the company. Mohammed Waseem, CEO of OTC trading platform Aza Ventures, said he is cooperating with authorities on the matter and pledged to disclose the identities of those involved if funds cannot be returned.
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