Self Chain CEO has been dismissed for allegedly participating in a $50 million Crypto Assets OTC Trading fraud.

According to BlockBeats news on June 23, The Block reported that the blockchain project Self Chain has removed founder Ravindra Kumar from the position of CEO, following accusations from users that he manipulated a fraud scheme lasting several months, involving more than $50 million. Self Chain issued a statement announcing a "decisive leadership change" after Kumar was suspected of being involved in OTC Trading fraud. Previously, Kumar denied all allegations, claiming they were "completely false," and stated that his lawyer would respond.