On Monday, Self Chain, a layer-1 blockchain platform, announced the termination of its CEO, Ravindra Kumar, following allegations of his involvement in a $50 million over-the-counter (OTC) scam. The accusations, made by Aza Ventures on Friday, involve unauthorized OTC transactions of the Self Chain token (SLF) traded on Binance. (Source: Self Chain, June 23, 2025)
The Self Chain token (SLF) has seen a significant decline, dropping 35.9% over the past week. As of June 23, 2025, SLF is trading at $0.087433 USD, with an intraday high of $0.095784 USD and a low of $0.083088 USD. Kumar has denied the allegations. (Source: Self Chain, June 23, 2025)
Self Chain stated that no founding members were authorized to engage in OTC deals involving $SLF. Kumar has removed references to his CEO position from his social media profiles. The cryptocurrency community is closely watching for further developments. (Source: Self Chain, June 23, 2025)