Self Chain CEO Removed Amid Allegations of Involvement in $50,000,000 Cryptocurrency OTC Trading Fraud

Self Chain ousts CEO after allegations of involvement in $50 million crypto OTC fraud https://t.co/HV6GcbrcYN

Self Chain Governance Update Due to recent developments that diverge from the founding vision of Self Chain, we are initiating a decisive leadership transition that reinforces our long-term vision. This marks an important step in realigning Self Chain with its core principles of decentralization, transparency, and community-driven development. Leadership Termination Ravindra Kumar’s role as CEO has been formally terminated. He will no longer hold any position, responsibility, or association with Self Chain in any capacity going forward. Ongoing Commitment All other founding members remain fully aligned with the project’s original vision and are actively committed to building and advancing Self Chain in accordance with its core values. DAO Transition Underway Self Chain is actively progressing toward becoming a fully decentralized autonomous organization (DAO). Governance mechanisms are already in motion to enable transparent, protocol-governed, community-led decision-making. This transition marks a pivotal step in strengthening Self Chain’s foundation as a secure, community-driven Layer 1. More details on the DAO structure, future roadmap, and next steps will follow shortly.

Self Chain Governance Update In light of recent developments that diverge from the founding vision of Self Chain, we are taking decisive action to realign the project with its original principles of decentralization, transparency, and community ownership. Leadership Transition Effective immediately, Ravindra will no longer serve as CEO of Self Chain. We acknowledge and appreciate his contributions during the formative phase of the project. DAO Transition in Progress Self Chain is actively evolving into a fully decentralized autonomous organization. This transition is designed to ensure that strategic direction, leadership, and key decisions are determined by the community, through open governance and protocol-based processes. What’s Next? We are setting up a structured governance framework that will: → Empower decentralized leadership → Enable transparent, community-driven decision-making → Ensure alignment with long-term project values This marks a pivotal step for Self Chain as we recommit to building a truly decentralized, permissionless, and resilient Layer 1 infrastructure. More details on the DAO framework, timelines, and next steps will follow shortly.

Self Chain Ousts CEO Ravindra Kumar After $50M OTC Scam Allegations

Self Academy: Chapter 5 — AI Agents Welcome to the fifth module of Self Academy, your deep dive into the technologies and ideas powering Self Chain. This chapter focuses on how AI Agents work, why they matter, and what makes Self Chain purpose-built for agent-native execution. Let’s dive in 🧵

Self Chain Audit Completed We’re excited to share that Self Chain’s CosmWasm SDK implementation has successfully completed a comprehensive security audit by @SecurityOak. This marks a key milestone toward bringing CosmWasm smart contracts to the mainnet with confidence, ensuring a secure and reliable developer experience from day one. Timelines and rollout details coming soon. Stay tuned. 💜 📚 Learn More: https://t.co/l76Gf3YEPm

Keep shipping https://t.co/elTNs5Rxrh

CosmWasm is closer than you think https://t.co/VBJ9tDKF0w

To-do: Unifying Web3 with AI-powered Intents

Self Chain is for DeFi Self Chain is for PayFi Self Chain is for GameFi Self Chain is for AI Agents Self Chain is for developers Self Chain is for newbies Self Chain is for veterans Self Chain is for Everyone 💜

📢 Reminder: The SelfCast roundtable goes live in less than an hour. Join us for an open discussion on AI, agents, and the path to a more autonomous Web3. 📍 https://t.co/Lss9Zx1qfx Don't miss out.

Traditional payment systems have remained fundamentally unchanged. They are high cost, fragmented, and entirely dependent on user coordination. PayFi, powered by Self Chain, changes this — not with prettier UI, but with agent-driven, intent-based execution. Here’s how it works 🧵⤵️

The best Web3 experience comes from abstracting complexity at every layer.Users shouldn’t need to manage seed phrases or handle private keys just to access assets.Self Chain’s keyless wallets will simplify access by offloading seed phrase management.Built using MPC-TSS/AA and Intent access, users can:🟣 Create wallets without private keys or seed phrases🟣 Recover access through social recovery🟣 Access assets across multiple chains from a single interface with chain abstractionA wallet experience that replicates web2 simplicity, without compromising web3 self-custody.Get ready to transform your wallet experience.👉 Learn more: https://t.co/bOreifeuOx

Build season starts soon. https://t.co/qv3NynJBBN

📢 Reminder to Join the Self Chain x CedeHub Trading Competition Trade $SLF on Binance via @cedelabs and secure your rank on the leaderboard. $1,142 in $SLF rewards are distributed daily to top traders so don’t miss it. 📆 Deadline: 10th June Start trading: https://t.co/BxFwppf0d1

Happy Eid Al-Adha from Self Chain 💜 https://t.co/V5RFLIy0Vb

📢 Partnership Announcement 📢 We’re excited to welcome @CrustNetwork to the Self Chain ecosystem! Together, we’re enabling more seamless access to decentralized storage by combining Crust’s IPFS-based infrastructure with Self Chain’s intent-centric execution and keyless access. 🧵⤵️

Self Academy: Chapter 4 – Account Abstraction Account Abstraction redefines what wallets can do and it’s a foundational part of Self Chain’s keyless wallet infrastructure. In this chapter of Self Academy, we’re delving into how Account Abstraction brings programmability to Web3 wallets. Most wallets today are rigid: tied to a single private key, limited recovery options, and manual gas handling. AA changes these. It transforms user accounts from static, key-controlled wallets into dynamic, programmable smart contracts. Instead of relying solely on a private key, your account becomes a set of customizable rules. Benefit of Account Abstraction With Account Abstraction, Self Chain supports smart wallets capable of handling advanced features like: 🟣 Transaction Batching: Combine multiple actions into a single execution, reducing overhead and improving on-chain efficiency. 🟣 Gas Sponsorship: Let dApps or paymasters cover gas fees, removing friction and streamlining user onboarding. 🟣 Token-Based Fee Payments: Enable users to pay for transactions using ERC-20 tokens instead of the native gas token or through gas sponsorships, offering a more flexible fee model. Account Abstraction introduces the missing layer of programmability at the account level. It enables smart automation, better security models, and smoother UX without compromising decentralization. 📚 Read more: https://t.co/soorcDsbpm

🟣 Mainnet V2: Enabling CosmWasm Mainnet V2 is right around the corner, and with it, CosmWasm smart contract support is coming to Self Chain. This is a major step forward, bringing powerful, secure, and scalable smart contracts to the core of our intent-driven Layer 1. Built for security and modularity, CosmWasm creates a new phase of on-chain development, tailored for performance and flexibility across diverse use cases. With Mainnet V2, Self Chain delivers: 🟣 CosmWasm support for secure smart contract deployment 🟣 A modular, production-grade environment 🟣 The foundation for permissionless innovation on Self Chain Builders, get ready. CosmWasm is coming to Self Chain.