Self Chain CEO ousted for alleged involvement in $50M crypto OTC fraud

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On June 23, according to The Block, the blockchain project Self Chain has dismissed CEO Ravindra Kumar, after users accused him of manipulating a fraud scheme that lasted for months and involved over $50 million.

Self Chain issued a statement announcing a "decisive leadership change" after Kumar was suspected of participating in over-the-counter trading fraud.

Previously, Kumar denied all allegations, claiming they were "completely untrue" and stated that his lawyer would respond.

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