In recent news, ZKasino, the cryptocurrency betting platform, got back an enormous amount of funds—$31 million in staked Ether (ETH)—to its original multi-signature wallet after one of its accused founders was arrested.
As of May 9, Etherscan data showed that ZKasino’s team wallet held about 10,531 Lido staked Ether (stETH), worth about $31.4 million at the moment per market rate. This return happened after the funds were moved to private wallets that were said to be controlled by at least one project founder. Users noticed that transfers were no longer working at the same time.
ZKasino’s Founder Arrest Spurs Return
Reports show that Binance’s help was crucial in the police’s efforts to find these funds. Thanks to this cooperation, the Dutch Fiscal Information and Investigation Service (FIOD) was able to arrest at the end of the previous month. After being arrested, FIOD officers took things from the person, including a $12 million luxury car.
Even though this happened, ZKasino funds have been moving around on the blockchain, leading to rumors that more than one person may be interested in what some call an exit scam, which in the crypto community is called a “rug pull.”
After these events, there was a strange return of funds to the ZKasino multi-signature wallet. In response to claims made by Binance and the crypto community, a developer working on the project anonymously under the name “Derivatives Monke” on X strongly denied the claims, calling them “false and harmful to the ZKasino brand.”
We would like to assure everyone that we will continue our best efforts like we have for the past 3 years and that we will continue making the project succeed. Derivatines Monke refutes Binance claims
However, this statement was harshly criticized by both users and onlookers, who said that the cryptocurrency platform had broken the trust of its more than 10,000 users. Nansen, an on-chain analytics company, also asked Derivatives Monke about the time of asset transfers during the Eigenlayer airdrop scandal and their return after the arrest in the Netherlands.
