• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News
    goldman sachs evening oil

    Goldman Sachs Increases Bitcoin Holdings to $470 Million

    goldman bitcoin exposure skyline

    Goldman Sachs Expands Bitcoin Holdings to $470 Million

    futuristic dubai bitcoin skyline

    UAE Becomes Fourth-Largest State Bitcoin Holder

    thai cityscape modern oil painting

    RSXYZ Increases Bitcoin Holdings to 50 BTC

    uae office bitcoin mining art

    UAE Emerges as Fourth-Largest Government Bitcoin Holder

    futuristic uae city bitcoin art

    UAE Government Holds $700 Million in Mined Bitcoin

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar
    ai driven financial skyline

    JPMorgan Invests $500M in AI Hedge Fund Numerai

    pantera solana financial artwork

    Pantera Capital Plans $1.25B Solana Company Raise

    skeptical shiba coin growth

    Analysts Predict 540% Jump for Shiba Inu

    journalist checks etf documents

    Bitwise Files for First Spot Chainlink ETF with SEC

    trump coin oil painting

    Canary Capital Files for TRUMP Coin ETF with SEC

    golden financial district art

    Canary Capital Files Trump Coin ETF with U.S. SEC

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

Self Chain Removes CEO Amid $50M Ponzi Allegations

Solomon M. by Solomon M.
June 23, 2025
in Latest News
ravindra contemplative crypto crisis
Key Points:
  • Main event, leadership changes, market impact, financial shifts, or expert insights.
  • Allegations link Kumar to $50M Ponzi scheme.
  • Assets impacted include SUI, NEAR, SEI, Axelar, GRT, APT.
self-chain-removes-ceo-amid-50m-ponzi-allegations
Self Chain Removes CEO Amid $50M Ponzi Allegations

Ravindra Kumar has been removed as CEO of Self Chain, following allegations of his involvement in a $50 million crypto Ponzi scheme impacting OTC deals in major cryptocurrencies.

The event underscores increased risks in OTC crypto markets. Kumar’s dismissal raises awareness and caution in the DeFi space, potentially shifting market dynamics and prompting regulatory scrutiny.

Details of the Allegations

Self Chain has taken decisive action by removing Ravindra Kumar following accusations related to a $50 million Ponzi fraud involving major cryptocurrencies. The alleged scheme targeted investors with fraudulent OTC deals, particularly in tokens like SUI and NEAR. Kumar denied all allegations, asserting the claims are “completely false” and plans a legal response. According to official statements, he is formally terminated and no longer associated with Self Chain.

Market Reactions

The allegations have affected several major tokens, with trading sentiment for OTC deals turning wary. Market players such as Mohammed Waseem of Aza Ventures have pledged refunds, although funds are reportedly depleted.

Mohammed Waseem, CEO, Aza Ventures, regarding the refund to affected investors, “I have personally pledged to refund affected investors,” although his funds have been exhausted in an effort to advance repayments.

Mysten Labs’ Adeniyi Abiodun warned against falling for scams. Immediate consequences include heightened risk perceptions and increased industry vigilance. Cryptocurrencies tied to the mentioned tokens face scrutiny, with potential reputational damage heightening trading risks. Analysts suggest this incident prompts greater regulatory focus, possibly refining compliance measures. Historical patterns indicate potential tightening in OTC operations and investor caution in reaction to such events.

Future Implications

Potential fallout includes increased regulatory oversight and possible market trading depressions for related assets. As investigations by Indian authorities progress, transparency and governance in OTC trades are anticipated to evolve, affecting the broader cryptocurrency ecosystem.

Disclaimer:

The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions.

Previous Post

Cardone Capital Acquires 1,000 BTC for Treasury Strategy

Next Post

Self Chain CEO Removed Amid $50M Ponzi Allegations

Solomon M.

Solomon M.

Related Posts

futuristic city gdp display

US Government to Publish Economic Data on Blockchain

by Solomon M.
August 26, 2025

US Commerce Dept. to publish GDP data on blockchain, increasing transparency and reducing fraud.

tense formal meeting oil painting

Trump’s Attempt to Dismiss Fed’s Lisa Cook Draws Attention

by Joshua T.
August 26, 2025

Trump's attempt to fire Fed Governor Lisa Cook raises financial system stability concerns.

authoritative woman oil portrait

Fed Governor Lisa Cook Challenges Trump’s Removal Authority

by Solomon M.
August 26, 2025

Fed's Lisa Cook disputes Trump's power to dismiss her amid rate-cut demands.

euro stablecoin oil painting

EU Plans Euro-backed Stablecoin Launch on Ethereum

by Solomon M.
August 26, 2025

EU to launch an official euro-backed stablecoin on Ethereum, advancing digital euro adoption.

futuristic city ethereum euro

EU Plans Euro Stablecoin on Ethereum Blockchain

by Solomon M.
August 26, 2025

The EU is reportedly preparing a euro-backed stablecoin launch on Ethereum, aiming for public blockchain integration.

newcastle bydfi partnership art

Newcastle United Partners with BYDFi in Multi-Year Crypto Deal

by Solomon M.
August 26, 2025

Newcastle United signs multi-year partnership with BYDFi, appointing it as official cryptocurrency exchange partner.

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.