BlockBeats reported on June 23 that, according to The Block, the blockchain project Self Chain has dismissed founder Ravindra Kumar from his position as CEO, after users accused him of orchestrating a fraud scheme lasting several months, involving over $50 million.
Self Chain issues a statement announcing a 'decisive leadership change' following allegations against Kumar for involvement in off-exchange trading fraud.
Previously, Kumar denied all allegations, stating they were 'completely false' and mentioned that his lawyer would respond.