$50M OTC Scam Killed People - Unich Is Fighting Back

Unich Fights Back After $50M OTC Scam Shakeup

On June 21st, one of the most devastating OTC scams in recent crypto history that wiped out over $50 million in investor funds came to light. This tragedy transformed the scam from a market incident into something far more chilling: a reminder that crypto’s lack of infrastructure can be fatal. That’s exactly the kind of risk Unich was built to eliminate. It replaces shady OTC deals with secure, on-chain pre-TGE trading, where users stay in control.

The $50M OTC Scam That Shocked Crypto

Aza Ventures was a Telegram-based OTC scam targeting pre-TGE tokens like SUI, NEAR, SEI, and Axelar. Pretending to be insiders, the group offered exclusive deals to VCs, influencers, and whales. Like most scams, it began quietly - early wins built trust.

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At the center was a figure called ‘Source 1,’ allegedly tied to a Binance-listed token and Indian entities. As trust grew, so did deposits. Bigger deals followed. Then it vanished with over $50 million. Wallets were drained. Tokens never arrived. Even experienced investors were hit. One suicide was reportedly linked to the fallout.

Aza Ventures isn’t unique. Similar names, like Mohit, Haowang, Xinbi Guarantee, repeat the same playbook across Telegram and Discord. OTC trading remains one of crypto’s riskiest blind spots - no contracts, no escrow, no enforcement. Just trust and screenshots. Scammers exploit this: build rapport, close a few deals, then disappear.

Until that changes, especially for pre-TGE tokens, the cycle won’t stop. Some lose funds. Others lose everything.

Unich Is Determined To Restore Trust And Reinvent OTC 

While the broader crypto industry continues to dismiss OTC scams as “the cost of doing business,” Unich sees it differently. For Unich, every OTC scam is a failure of design, and one that can be fixed with the right tools.

Unich Pre-Market is an on-chain OTC trading platform built specifically for pre-TGE tokens. It’s not a chat group. It’s not a spreadsheet. It’s not a forum post. It’s a live protocol that turns private OTC chaos into a structured, transparent, and enforceable marketplace.

Every trade on Unich is secured by smart contracts, time-based settlements, and automated enforcement. If either party of a deal fails to deliver, fallback penalties trigger - refunding or compensating as needed. Everything is recorded on-chain, not in screenshots.

Unich is the only OTC exchange in crypto that offers a Cashout Order. This feature lets users exit positions at any time, partially or fully, before a TGE happens, hence full control over their assets.

Early buyers/sellers can exit their positions anytime pre-TGE. 

Another standout feature of Unich is Pre-Order OTC - a novel mechanism that allows users to pre-buy or pre-sell tokens at any desired price, within a specific daily window. This unlocks natural leverage: traders can gain full upside exposure to token price movements while only locking in 5% collateral of the full position. In other words, you can position like a whale without putting up whale-sized capital.

This matters not only for security, but for liquidity and fairness. Instead of whales getting early access through shady deals, Unich lets everyone participate in a transparent, recorded, and neutral environment without sacrificing speed or alpha.

In just 6 months since mainnet, Unich has already processed over $1.1 billion in total trading volume, with daily OTC activity often surpassing entire pre-sale platforms. Over the past months, the protocol has generated over $20 million in real, on-chain revenue, making it one of the most capital-efficient platforms in Web3.
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Unich IDO: A Public Token Sale Worth Looking At

Unlike most crypto projects that launch a token before building anything, Unich chose to do the opposite. The exchange has been live for months, handling real trades, solving real problems, and generating real revenue.

Now, after proving itself in the wild, Unich is opening the door for public participation through its IDO.

Unich IDO is taking place directly on the platform itself. There are two rounds, and anyone can join. Participants can earn up to 11% referral rewards for inviting friends to the token sale, distributed automatically through smart contracts.

The token, $UN, is the core asset that powers the entire Unich ecosystem and is expected to list on top-tier exchanges at the end of 2025. Within just 24 hours of $UN being listed on the Unich Pre-Market, its price jumped from $0.16 to $0.80, a 5x increase, driven entirely by organic trades from users who had already experienced the product firsthand.

Snapshot of $UN chart On Unich Pre-Market OTC

All in all, most people don't realize they’re in a broken system until it breaks on them.

For OTC traders, that moment often comes too late - after the funds are gone and the screenshot deals turn into silence. That silence is what Unich was built to replace.

With smart contracts, on-chain logic, and enforceable rules that put users in control, Unich is turning OTC into something it’s never been before: safe by default. If you trade on Unich, you don’t need to trust anyone - not even Unich itself. And that’s exactly the point.