They discovered who was behind that massive $50 million Telegram scam. While most people focused on other geopolitical events, a well-structured Ponzi scheme was stealing investors in private Telegram groups.

Basically, what happened was this: a fraudster created a top-tier OTC (over-the-counter) business and started distributing it in closed Telegram communities. The scheme gained credibility because it was endorsed by reputable names and well-known investors in the scene. It offered discounts of up to 50% on trending altcoins like SUI, NEAR, SEI, and others. It looked too legitimate.

Between November 2024 and January 2025, everything worked normally. But then it turned into that classic Ponzi scheme where the scammers paid the first investors with the money from new ones. More and more people joined because they saw the profits being publicized. In May, warning signs appeared, but no one took them seriously because they were making money. Until June 2025, when token distribution stopped and the people responsible simply disappeared with vague excuses about travel and currency issues.

Aza Ventures was one of the biggest victims, and only in June did it reveal that it had been defrauded. That’s when the investigation began, and they found it was a global scheme worth $50 million operated by multiple fronts.

As for who is behind it: Aza Ventures keeps the main fraudster (called "Fonte 1") confidential, believing that the fact that he is from India increases the chances of recovering the investment. But blockchain analysts such as Altcoin Alpha and Crypto Sleuth exposed Ravinder Kumar, founder of Self Chain, as the alleged person behind the Telegram scam. He denies everything and promises to update the community soon, but so far, nothing.

The price of SUI is at $0.87 (-0.68%), NEAR at $1.23 (+0.80%), and SEI at $0.05. This case shows how security and due diligence should be the top priorities in the crypto market.