The founder of WhiteRock was arrested in the UAE on suspicion of committing a $30 million fraud through ZKasino
ChainCatcher news reports that on social media, on-chain detective ZachXBT revealed that UAE authorities have detained Ildar Ilham, the founder of the decentralized finance protocol WhiteRock Finance, accusing him of committing a $30 million fraud through the gambling platform ZKasino.Details of the case show that when the ZKasino platform launched in April 2024, it promised to airdrop native tokens to specific users, but over a year later, it has still not fulfilled this promise. In April of this year, Dutch authorities arrested a 26-year-old individual involved in the case (reportedly a cryptocurrency celebrity Elham Nourzai), on charges including fraud, embezzlement, and money laundering.ZachXBT pointed out that Ilham's arrest is related to the investigation of Nourzai and ZKasino, and procedures are currently underway to extradite him to the Netherlands. Another suspected individual, Lior Ben Zakan, has not yet been mentioned.As a result of this news, the native token of WhiteRock, WHITE, plummeted over 40% on Thursday, dropping from $0.0006582 to $0.0003909.