{"id":33175,"date":"2025-06-23T13:01:50","date_gmt":"2025-06-23T13:01:50","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=33175"},"modified":"2025-06-23T13:01:50","modified_gmt":"2025-06-23T13:01:50","slug":"self-chain-ousts-ceo-ravindra-kumar-after-50m-otc-scam-allegations","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=33175","title":{"rendered":"Self Chain Ousts CEO Ravindra Kumar After $50M OTC Scam Allegations"},"content":{"rendered":"
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Layer-1 blockchain Self Chain announced that it has terminated its CEO Ravindra Kumar after allegations of a $50 million over-the-counter (OTC) scam.<\/p>\n

The allegations<\/a> broke on Friday with claims that Kumar was involved in a string of OTC scams including firms such as Aza Ventures, which published<\/a> the allegations on Telegram.<\/p>\n

Kumar responded<\/a> at the time by posting: “I’ve been accused of serious wrongdoing, which is completely false. My legal team and I are working on a statement to address this matter. Stay tuned for updates.”<\/p>\n

An OTC transaction is one that takes place outside of an exchange in order to avoid slippage on larger transactions. It often involves the buyer, seller and a middleman brokering the deal.<\/p>\n

The Self Chain token (SLF), which trades on Binance, is now down by 35.9% in the past week after selling off in relation to the allegations.<\/p>\n

“Ravindra Kumar\u2019s role as CEO has been formally terminated,” Self Chain wrote in a Monday tweet. “He will no longer hold any position, responsibility, or association with Self Chain in any capacity going forward.”<\/p>\n

No Self Chain founding members have ever been authorized to engage in OTC deals involving $SLF,” it continued. “Any other deals circulating in the market have not been officially approved or sanctioned by the team in any way whatsoever.”<\/p>\n

Kumar retweeted Self Chain’s tweet and removed reference to himself as CEO from his profile.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Layer-1 blockchain Self Chain announced that it has terminated its CEO Ravindra Kumar after allegations of a $50 million over-the-counter (OTC) scam. The allegations broke on Friday with claims that Kumar was involved in a string of OTC scams including firms such as Aza Ventures, which published the allegations on Telegram. Kumar responded at the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-33175","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/33175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33175"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/33175\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}