4 months ago
ZKasino, a DeFi level precocious embroiled successful controversy, announced that it volition instrumentality stolen funds to its investors astatine a 1:1 ratio.
The platform, which Dutch authorities precocious charged with stealing $30 cardinal successful idiosyncratic deposits, stated successful a blog post connected May 28 that investors tin reclaim their Ethereum (ETH) done a recently introduced “2-step backbridge process.”
The announcement comes aft the arrest of a 26-year-old Dutch man linked to ZKasino earlier successful May connected charges including fraud, embezzlement, and wealth laundering. The antheral is reportedly down the pseudonymous ZKasino developer X relationship called “Derivatives Monke.”
Dutch authorities person seized assets worthy €11.4 million, including existent estate, a luxury car, and assorted cryptocurrencies.
Skepticism remains high
Despite ZKasino’s committedness to refunds, capitalist assurance remains low. The deficiency of nonstop connection with Dutch authorities and the abrupt refund connection person raised respective doubts successful the community.
Chief among them is that the level has fixed investors a 72-hour model to motion up for the refund process. Skeptics reason that this little play whitethorn forestall galore from recovering their deposits and could beryllium different scam meant to drain people’s wallets.
The platform’s blog station did not code the staking rewards earned from idiosyncratic deposits. Onchain records bespeak that pursuing the extremity of the Bridge-to-Earn program, ZKasino converted investors’ ETH into Lido’s Wrapped Staked Ether.
Given the existent Lido staking output of 3.3% and the caller rally successful ETH prices, the staking rewards generated are estimated to beryllium implicit $100,000.
Several assemblage members person questioned wherefore the level is asking them to spell done different process alternatively of conscionable returning the Ethereum.
Others questioned the veracity of the blog and its associated societal media posts, asking however the Derivatives Monke was tweeting astir the refund from the confines of jail.
The Zkasino scam
The issues with ZKasino began successful March erstwhile the level launched the “Bridge-to-Earn” program, promising rewards for temporarily locking up ETH.
However, erstwhile the redemption play arrived successful April, ZKasino withheld astir $30 cardinal successful deposits, starring to allegations of fraudulent activity from some investors and Dutch authorities.
ZKasino maintains that it operates legitimately, but the operation of ineligible issues, capitalist skepticism, and the caller refund announcement has near galore questions unanswered.
As the 72-hour deadline approaches, the crypto assemblage is intimately monitoring whether ZKasino volition grant its promises oregon if further complications volition arise.
The station ZKasino resurfaces with promises of returning capitalist funds but skepticism abounds appeared archetypal connected CryptoSlate.
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