Self Chain CEO dismissed for allegedly participating in $50 million cryptocurrency OTC trading fraud

ChainCatcher news, according to The Block, the blockchain project Self Chain has dismissed founder Ravindra Kumar from his position as CEO, following user allegations that he manipulated a fraud scheme lasting several months with over $50 million involved.

Self Chain issued a statement announcing a "decisive leadership change" after Kumar was suspected of being involved in off-exchange trading fraud.

Previously, Kumar denied all allegations, stating that they were "completely false," and indicated that his lawyer would respond.