The world of crypto and decentralized finance (DeFi) has a new scandal on its hands: ZKasino. This gambling platform promised anonymity and high stakes, but now faces accusations of fraud and deception.
Accusations of Fraud
In March, ZigZag, a rival exchange, accused ZKasino of:
- Lying about its funding
- Diverting funds for personal use
- Failing to pay contractors
These accusations gained traction when ZKasino users discovered that their funds were locked in the platform’s token with a 15-month vesting period, despite promises of 1:1 withdrawals.
Investors Distance Themselves
Major investors like MEXC and Big Brain Holdings have distanced themselves from ZKasino, claiming they were unaware of the alleged deception. Big Brain Holdings even alleges that former ZigZag founders are now part of the ZKasino team, raising concerns about a potential “rug pull” scam.
Speculation of a Rug Pull
The evidence against ZKasino is mounting, raising concerns about its legitimacy. ZigZag’s claims, broken promises, and investor backtracking suggest that the platform may have been designed to take user funds and disappear.
ZKasino’s Silence
ZKasino has yet to respond to the accusations, which has only fueled speculation of a rug pull. The silence has left investors worried about the fate of their funds.
