$50 Million Gone in SUI, SEI, and NEAR Telegram Scam: How They Fooled the Whole Crypto Scene
A fresh warning has hit the crypto space, and this time it involves SUI, SEI, and NEAR tokens. According to analyst Crypto Patel, over $50 million has been stolen from investors in a slow moving Telegram scam that targeted whales, venture capitalists, and influencers.
The scam centered around a Telegram group called Aza Ventures Bulletin. The group posed as a private OTC (over the counter) deal hub, offering discounted tokens for popular projects like SUI, SEI, NEAR, and even others like Axelar. At first, the group seemed legitimate. Early buyers did receive tokens after payment, which helped build trust. But that was part of the plan.
Crypto Patel explained that this was a calculated Ponzi style fraud. As trust grew, more buyers joined in and began sending larger amounts of money, hoping to secure deals on these tokens. But the tokens stopped coming. Messages went unanswered. Refunds were never processed. Eventually, the group disappeared, leaving victims with empty wallets and no legal recourse.
What you'll learn 👉
How the Fraud Was Executed
What made this scam especially dangerous was its slow and professional approach. This was not a smash and grab. It was carefully designed to trick even experienced crypto investors. Crypto Patel noted that victims include high net worth individuals, VCs, and respected Key Opinion Leaders in the space.
The scammers relied on building credibility first. They even delivered a few initial SUI or NEAR token purchases to make it look real. Then they scaled it up. Once enough trust and funds had been gathered, they vanished.
Several project teams, including the official SUI and EGLD accounts, later confirmed that no such discounted token deals had been authorized. The real teams had nothing to do with it.
SCAM ALERT: SUI, NEAR, SEI Victims Robbed in Massive OTC Ponzi!
— Crypto Patel (@CryptoPatel) June 21, 2025
If you’re buying “cheap tokens” on Telegram… STOP NOW.
Here’s how they fooled whales, VCs & KOLs 👇
– A Telegram group called Aza Ventures Bulletin offered discounted SUI, NEAR, SEI, Axelar, & more.
– Early deals… pic.twitter.com/NLQTeJoVoV
$50 Million Gone: Where It Stands Now
Crypto Patel mentioned that over $50 million has been lost to this scam. There are whispers that it may be linked to a controversial Indian crypto founder who is currently under investigation.
That claim has not been confirmed yet, but it has sparked serious discussions about how fraudsters are using Telegram and other chat apps to run these complex crypto cons. As of now, there is little chance that the victims will get their money back.
Lessons from the SUI, SEI, and NEAR Telegram Scam
This is another painful reminder that if it sounds too good to be true, it probably is. Telegram groups promising exclusive deals, discounted tokens, or backdoor access to high demand coins like SEI or NEAR should always raise red flags.
Read Also: How High Could SEI Price Go This Cycle? The Chart Says It’s Big
Crypto Patel urged the community to stay alert and stop trusting anonymous sellers on Telegram. “Stay smart. Stay safe,” he posted, warning that scams like this are becoming more sophisticated and harder to detect.
The crypto world moves fast, and opportunities are everywhere, but so are the traps. When it comes to buying SUI, SEI, or NEAR tokens, always stick with trusted platforms and never send money to unknown individuals, no matter how legit they seem at first.
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