ZKasino scammer loses $27M as Ethereum price drops

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A wallet linked to the $40 million ZKasino scam lost more than $27 million after a leveraged position was liquidated, marking what some in the crypto community are calling a dose of karmic justice.

ZKasino launched in April 2024, luring investor capital by promising an airdrop of its native token to users who bridged Ether (ETH) to the platform.

However, instead of returning the funds, ZKasino transferred around $33 million in user ETH to the staking protocol Lido Finance.

Nearly a year later, the wallet behind the alleged exploit has been liquidated…



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ZKasino scammer loses $27M as Ethereum price drops


A wallet linked to the $40 million ZKasino scam lost more than $27 million after a leveraged position was liquidated, marking what some in the crypto community are calling a dose of karmic justice.

ZKasino launched in April 2024, luring investor capital by promising an airdrop of its native token to users who bridged Ether (ETH) to the platform.

However, instead of returning the funds, ZKasino transferred around $33 million in user ETH to the staking protocol Lido Finance.

Nearly a year later, the wallet behind the alleged exploit has been liquidated…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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