The Telegram channel of Azra Ventures provided discounted OTC altcoin offers, attracting interest despite warnings. This led to about 50 million USD being siphoned from many buyers, including retail investors and crypto influencers.
Notable tokens such as SUI, NEAR, SEI, and AXL were included in the scheme, which initially gained trust. Reports from the Aza Ventures Bulletin later revealed elements resembling a Ponzi scheme, causing the involvement of authorities.
Authorities are now investigating the situation, with a focus on recovering funds for victims. The channel’s anonymity regarding participants has raised concerns, as trust in the crypto community is severely impacted.
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