🔥 ZKasino caused outrage when accused of detaining 33 million USD of ETH from investors

💠 At first glance, ZKasino looks like any other cryptocurrency project. The project announced a $350 million valuation for its Series A round, backed by $26 million from investors including cryptocurrency exchange MEXC. ZKasino's smart contracts have been audited by the famous security company Certik (after being passed the first time by ChatGPT). The project's testnets are also active.

➡️ And so, at the time of the project's launch, more than $33 million in ETH was connected to ZKasino's network by more than 10,000 participants, hoping to earn more $ZKAS when the protocol launched.

➡️ When ZKasino finally launched after many delays on April 20, investors were stunned to learn that plans had been changed. Instead of being able to redeem their ether as planned, the funds were automatically converted into $ZKAS tokens, as an “incentive” intended to “provide a seamless transition and superior user experience,” according to the announcement. project report.

⚙️ ZachXBT has previously made allegations of mismanagement of the development team. A user representing the ZigZag exchange also alleged that the team behind ZKasino stole the initial funds for the project from ZigZag's coffers. Among other allegations of unpaid contractors and shady business practices.

Discussion at Coin Addiction 💵