Self Chain announces dismissal of founder Ravindra Kumar from CEO position

According to The Block, Self Chain has announced the dismissal of founder Ravindra Kumar from his CEO position due to allegations of leading a $50 million off exchange fraud scheme. This scam has been attracting investors since November last year by selling low-priced tokens such as GRT, APT, SUI through Telegram, and later evolved into a typical Ponzi structure. OTC platform Aza Ventures claims that Kumar is suspected to be the mastermind behind the pseudonym "Source 1". Kumar denies the allegations and stated that a lawyer will respond. The project party has announced that it will no longer have any association with Self Chain.