zkasino

ChainCatcher news, according to a message shared by crypto detective ZachXBT, WhiteRock founder Ildar Ilham (also known as @XBT_Prometheus) has been arrested by UAE law enforcement for allegedly participating in the $30 million Zkasino exit scam. He will be extradited to the Netherlands for this criminal case.

ChainCatcher news, ZachXBT posted a warning stating that at least one member of the Zkasino $30 million exit scam team seems to be related to the WhiteRock Finance project, as on-chain transactions link the two projects and a personal email address together. Zkasino raised over $30 million from the community through a presale, but the project did not develop according to the roadmap, and the funds appear to have been misappropriated, leading to the arrest of Elham Nourzai by the Dutch FIOD at the end of April 2024, with asset seizures. Co-defendants Ildar Ilham and Lior Ben Zakan were reported to be residing in the Middle East at that time.At the end of 2024, Elham was released, and Zkasino's funds began to be slowly laundered through inter-chain jumps, involving networks such as ZkSync, Starknet, EVM, and Solana. The funds were divided into two paths: 1) cashing out through OTC brokers; 2) converting cryptocurrencies to XMR through instant exchanges; 3) conducting contract trading on Hyperliquid.WhiteRock (WHITE) emerged at the end of last year and was immediately found to have multiple significant issues, including: an anonymous team with no history, allegations of fake partnerships, the team owning multiple sub-wallets funded through instant exchanges, inflated user numbers, and a lack of transparency regarding USDX support.

ChainCatcher news, according to on-chain analyst Onchain Lens (@OnchainLens), the ZkCasino scam address has closed its 20x leveraged ETH position on Hyperliquid, with a cumulative loss of 27.1 million dollars, after previously scamming over 40 million dollars.

ChainCatcher message, according to the statistics from the security agency Slow Fog, in the Top 10 loss incidents of 2024, ZKasino, IBXtrade, and Essence Finance ranked the top 3 with involved amounts of 33 million USD, 21.8 million USD, and 20 million USD respectively.It is worth mentioning that Yuxian stated: "In the Top 10 exit incidents of 2024 (uncertain if there will be any returns later), most of them should not be domestic projects, and we do not need to completely deny domestic projects."

According to ChainCatcher news, on-chain analyst Yu Jin monitored that the ZKasino project team just took profits from their leveraged long position on ETH earlier this morning.After the drop tonight, the ZKasino project team resumed their leveraged long position on ETH 1 hour ago: they borrowed 15 million DAI from Aave through 2 addresses to buy 4,185 ETH at an average price of $3,584.

ChainCatcher message, according to on-chain analyst Yu Jin's monitoring, the ZKasino project team has ended their leveraged long position on ETH, making a profit of 651.5 ETH (2.37 million USD).Recently, the ZKasino project team misappropriated 10,535 ETH belonging to users to borrow 53.91 million DAI on-chain to buy 15,645 ETH for a leveraged long position on ETH; 6 hours ago, they chose to end this leveraged long position. They sold 15,005 ETH bought through leverage and repaid the loan, earning a profit of 651.5 ETH; subsequently, they dispersed and transferred a total of 11,186.5 ETH (40.75 million USD), which includes the users' ETH and the profits, to 9 addresses.

ChainCatcher news, according to on-chain analyst Yu Jin's monitoring, the ZKasino project team borrowed 9.36 million DAI 5 hours ago to purchase 2,603 ETH.After depositing 10,535 ETH from users into Aave as collateral, they have cumulatively borrowed 53.77 million DAI to purchase 15,645 ETH to leverage long on ETH. The average price of this leveraged ETH purchase is $3,437.With the significant rise in ETH, the ZKasino project team has currently realized an unrealized profit of $3.22 million by using users' ETH as collateral for leveraged long operations.

ChainCatcher message, according to on-chain analyst Yu Jin's monitoring, ZKasino continues to leverage, having deposited another 5,265 ETH from a different address into Aave as collateral to borrow 12.348 million DAI to buy 3,515 ETH in the past 15 minutes. They have now deposited all of the users' 10,535 ETH into Aave as margin to borrow 31.937 million DAI to purchase 9,316 ETH. The average price of the leveraged ETH purchased is $3,428.

ChainCatcher news, according to on-chain analyst Yu Jin's monitoring, the ZKasino project team continues to increase their leveraged long position on ETH. In the past 2 hours, they borrowed 12.38 million DAI from Aave through a loop loan to purchase 3,723 ETH. They have used 10,535 ETH belonging to users as the base margin and have cumulatively borrowed 31.937 million DAI from Aave to acquire 13,040 ETH. The average cost of these leveraged purchases of ETH is 3,402, and they are currently at a floating loss.

ChainCatcher message, according to on-chain analyst Yu Jin's monitoring, ZKasino is still continuing to leverage. This morning, they deposited another 5,265 ETH from a different address into Aave as collateral to borrow 12,348,000 DAI to buy 3,515 ETH.They have now deposited all of the users' 10,535 ETH into Aave as margin to borrow 31,937,000 DAI to purchase 9,316 ETH. The average price of the leveraged ETH purchased is $3,428.

ChainCatcher news, according to Ember monitoring, the ZKasino project team borrowed another 8 million DAI last night to buy 2301 ETH, and they have cumulatively borrowed 19.589 million DAI from Aave to purchase 5801 ETH, with an average price of 3377 USD.

According to ChainCatcher's message, monitored by on-chain data analyst Yu Jin, the ZKasino address started to misappropriate "funds prepared to be returned to users" for on-chain leveraged long positions on ETH 7 hours ago. They deposited 5,270 ETH into Aave as collateral to borrow 11.589 million DAI, and then increased their position by 3,500 ETH.

ChainCatcher news, ZKasino stated yesterday that it has initiated a two-step bridging process, which will bridge ETH back to non-participating bridge users at a 1:1 ratio. The team also mentioned that they are still working hard and reiterated their commitment to making the project successful. However, the crypto community pointed out that ZKasino only gives bridge participants a short 72 hours to register (UTC time May 28, 14:00 - May 31, 14:00, all on business days). After three days, the registration function will be closed and deposits will also stop, which may prevent many from retrieving their deposits.In addition, ZKasino has deliberately avoided addressing the staking rewards earned from user deposits. It is reported that after the Bridge-to-Earn program ends, ZKasino will convert investors' ETH into Lido's Wrapped Staked Ether. Given that the current Lido staking yield is 3.3% and the recent rise in ETH prices, the expected staking rewards will exceed $100,000.

ChainCatcher message, ZKasino officially announced that it has launched a 2-step bridging refund process, where bridge participants can register and bridge back their ETH at a 1:1 ratio.Bridging refund process: For those bridge participants who choose not to participate in the ZKAS conversion, the process to bridge back their ETH has been initiated. Bridge participants can register by depositing the first batch of ZKAS bridging rewards they received. Registration will forfeit the remaining 14 months of ZKAS release.It is reported that bridge participants have 72 hours (UTC time from May 28, 14:00 to May 31, 14:00) to register. Bridge participants can find their ZKAS on the ZKasino EVM chain and can deposit ZKAS into a smart contract controlled by ZKasino.Additionally, registration data will be collected over the next few days. A new announcement will be released as soon as possible to provide data for public verification. The data will show which addresses can claim their ETH. The claiming portal will open after data verification. Bridge participants will be able to claim their ETH at a 1:1 ratio from a new audited bridging contract on the Ethereum mainnet.

ChainCatcher message, according to on-chain analyst Yu Jin's monitoring, 25 minutes ago ZKasino applied to redeem 10,536 stETH (worth 31.56 million USD) for ETH at Lido, and these stETH should be redeemed for ETH at a 1:1 ratio tomorrow.Previously, on April 21, ZKasino deposited 10,515 ETH from users into Lido for earning interest, and after 25 days, it earned 22 ETH in interest.

ChainCatcher message, He Yi responded again on social media regarding the WSJ report on the DWF incident, "Some mainstream media articles are beginning to lean towards emotional and biased outputs, no longer based on facts, such as complaints (opinions) from former employees being able to become articles; while Binance's assistance to law enforcement, actively investigating and reporting the capture of the main suspect Zkasino (facts) is not worth reporting."

ChainCatcher message, according to the monitoring by Shield, the ZKasino Rug associated address transferred 6000 wstETH to the ZKasino multi-signature address, approximately 20 million USD.

ChainCatcher news, according to Cointelgraph, the Binance investigation team stated that the team combined on-chain tracking and open-source intelligence (OSINT) methods to study all smart contracts of ZKasino through behavioral networks, identifying the actual operators of the contracts and the signers behind the related addresses. After identifying the suspects, Binance reported the identities of the account holders involved in the fraud to law enforcement.

ChainCatcher news, the Dutch Fiscal Information and Investigation Service (FIOD) arrested a 26-year-old man on April 29, who is suspected of fraud, embezzlement, and money laundering. The investigation focuses on a large-scale scam involving the gambling platform ZKasino, where global victims had invested over 30 million dollars in cryptocurrency on the platform.Dutch authorities seized cryptocurrency, real estate, and luxury cars worth over 11.4 million euros (12.2 million dollars).