Mohammed Waseem, CEO of Aza Ventures, revealed that his firm had unknowingly facilitated multiple fraudulent over-the-counter (OTC) crypto transactions-private trades conducted outside exchanges and publicly implicated Ravindra Kumar, former CEO of Self Chain, in orchestrating the scheme

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Mohammed Waseem, CEO of Aza Ventures, an Indian over-the-counter deals broker, revealed that his firm unwittingly helped mediate dozens of fraudulent deals over the course of several months

Over-the-counter, or OTC, refers to trading of assets done directly between two parties, and without the supervision of an exchange

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.