PANews June 23, according to The Block, Self Chain announced the removal of founder Ravindra Kumar from the CEO position due to allegations of his involvement in a $50 million off-exchange trading fraud scheme. The scam, which has been selling low-priced GRT, APT, SUI and other tokens to attract investors via Telegram since last November, has evolved into a typical Ponzi scheme. The OTC platform Aza Ventures claims that Kumar is suspected to be the mastermind using the alias 'Source 1'. Kumar denies the allegations and states that he will respond through his lawyer. The project team has announced that they no longer have any association with Self Chain.
