Last Thursday, the Dutch Tax Information and Investigation Service (FIOD) took decisive action by arresting one of ZKasino’s masterminds, suspected of a series of financial crimes, including fraud and money laundering. Aged just 26, the individual was detained as part of an investigation that began in response to information received by Platform X and FIOD intelligence work.

The operation resulted in the seizure of assets valued at more than 11.4 million euros, which included properties, luxury vehicles and a significant amount of cryptocurrencies. The suspect’s detention was extended for two weeks to allow for a thorough investigation into his activities.

A key point in this investigation was the collaboration of Binance’s financial crimes investigation and compliance team, which played a vital role in recovering millions in crypto assets. Authorities from FIOD and the Public Prosecutor’s Office are in contact with those involved in the fraudulent scheme, emphasizing the importance of cooperation to compensate the victims.

According to reports from Crypto Briefing, ZKasino’s founders disappeared with more than $33 million worth of Ether (ETH) on April 20, converting all of the ETH locked in the protocol’s bridge to its native token, ZKAS. Much of these funds came from users who were trying to qualify for the ZKAS airdrop.

Less than 24 hours after ZKasino’s co-founders disappeared from social media, communities related to the project began banning users who accused them of operating an exit scam. Additionally, an undisclosed amount of the ZKAS token was sold in a pre-sale event, resulting in significant losses for investors.

The reaction from investors was swift, with groups organized on Telegram seeking help from the authorities to ensure legal repercussions against the project’s founders. The situation is still developing, with investigations underway to clarify all the details of this complex case.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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