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Self Chain CEO has been dismissed for allegedly participating in a $50 million Crypto Assets OTC Trading fraud.
According to ChainCatcher news and reported by The Block, the blockchain project Self Chain has dismissed founder Ravindra Kumar from his position as CEO, following allegations from users that he manipulated a fraud scheme that lasted for several months and involved more than 50 million dollars. Self Chain issued a statement announcing a "decisive leadership change" following Kumar's alleged involvement in off-exchange trading fraud. Previously, Kumar denied all allegations, stating that they are "completely false," and mentioned that his lawyer would respond.