Have you heard about the Telegram scam that leaked $50 million? Well, I’ve uncovered some pretty interesting details about this scheme that has been going on since the end of last year.

It all started in a very sophisticated way. A fraudster created a top-tier OTC business and spread it in private Telegram groups, using reputable names and even well-known influencers to lend credibility. The bait? Discounts of up to 50% on promising tokens like SUI ( currently at $0.87, -1.13%), NEAR ($1.18, -1.61%), SEI ($0.05), and other high-growth altcoins. Between November 2024 and January 2025, everything seemed to be working perfectly.

But here’s the important detail: it was a classic Ponzi scheme. The guys were using new investors’ money to pay old ones, creating the illusion of real profits. As more people joined and shared their astronomical "gains," the scheme grew exponentially. The Telegram scam lasted a few months, with warning signs starting to appear in May 2025, but most ignored them because they were profiting.

Everything collapsed in June when they stopped distributing tokens. The operators disappeared with generic excuses about travel and foreign exchange issues. On June 19, Aza Ventures revealed that they had been taken down, discovering multiple schemes operating simultaneously.

The question everyone wants to know: who’s behind this? Blockchain experts like Altcoin Alpha and Crypto Sleith pointed to Ravinder Kumar, founder of Self Chain, as the main suspect. He denies the accusations and promises clarifications, but so far, nothing new. Aza Ventures keeps the confirmed identity confidential because they believe it increases the chances of recovering the funds.