On July 3, UAE legislation enforcement arrested Ildar Ilham (AKA @XBT_Prometheus), the founding father of WhiteRock_Fi, for his alleged function within the $30 million ZKasino exit rip-off.
(Supply: ZachXBT)
The arrest comes after traders accused the platform of fraud, claiming their funds disappeared when ZKasion all of a sudden shut down. Authorities are actually investigating the case as a suspected large-scale cryptocurrency rip-off.
UAE authorities have notified the Netherlands in regards to the arrest of a 21-year-old Norwegian man linked to a serious fraud case. The suspect, wished internationally, is accused of involvement in a large-scale rip-off linked to the net playing platform ZKasino.
$30 Million ZKasino Exit Rip-off: Background
The ZKasino rip-off defrauded traders of over $30 million via a faux playing platform. After amassing funds in a presale, the workforce deserted the mission and disappeared with the cash in a basic “rug pull” scheme.
Dutch authorities arrested one suspect, Elham Nourzai, in April 2024 and seized €11.4 million in property, together with actual property and cryptocurrency. Two different key suspects, Ildar Ilham and Lior Ben Zakan, reportedly fled to the Center East.
After Nourzai’s non permanent launch, the stolen funds started shifting throughout a number of blockchains in an obvious cash laundering operation.
The cash was transferred via ZkSync, Starknet, EVM, and Solana networks earlier than being cashed out by way of OTC brokers. They transformed to Monero (XMR) or traded on Hyperliquid. This advanced chain-hopping made the funds troublesome to hint.
Nonetheless, on-chain sleuth revealed new proof means that connections between the ZKasino rip-off and a current mission known as WhiteRock Finance (WHITE).
Investigators discovered monetary hyperlinks between the tasks, together with shared pockets addresses and transactions routed via on the spot exchanges. An e mail deal with related to WhiteRock’s deployer was additionally tied to Ildar IIham, the alleged ZKasino mastermind.
Cryptocurrency exchanges are being urged to delist the WHITE token and conduct thorough due diligence. In the meantime, authorities proceed investigating the ZKasino case, with trials pending for the arrested suspects.
It is a tone-setting case,” stated Selden, a member at legislation agency Cole Schotz PC. “We have now victims on American streets, and the Division made clear they didn’t need to await an arrest to truly be sure that the crypto was really seized.
Across the globe, cryptocurrency scams are surging, with fraudsters utilizing refined ways like rug pulls, phishing, and faux investments. As losses develop, legislation enforcement businesses worldwide are forming alliances to fight these crimes.
Worldwide process forces and crypto sleuths are working arduous to trace stolen funds, arrest perpetrators, and defend traders.
Additionally Learn: Avalanche Worth Eyes $25 as Community Exercise Rebounds Sharply
On July 3, UAE legislation enforcement arrested Ildar Ilham (AKA @XBT_Prometheus), the founding father of WhiteRock_Fi, for his alleged function within the $30 million ZKasino exit rip-off.
(Supply: ZachXBT)
The arrest comes after traders accused the platform of fraud, claiming their funds disappeared when ZKasion all of a sudden shut down. Authorities are actually investigating the case as a suspected large-scale cryptocurrency rip-off.
UAE authorities have notified the Netherlands in regards to the arrest of a 21-year-old Norwegian man linked to a serious fraud case. The suspect, wished internationally, is accused of involvement in a large-scale rip-off linked to the net playing platform ZKasino.
$30 Million ZKasino Exit Rip-off: Background
The ZKasino rip-off defrauded traders of over $30 million via a faux playing platform. After amassing funds in a presale, the workforce deserted the mission and disappeared with the cash in a basic “rug pull” scheme.
Dutch authorities arrested one suspect, Elham Nourzai, in April 2024 and seized €11.4 million in property, together with actual property and cryptocurrency. Two different key suspects, Ildar Ilham and Lior Ben Zakan, reportedly fled to the Center East.
After Nourzai’s non permanent launch, the stolen funds started shifting throughout a number of blockchains in an obvious cash laundering operation.
The cash was transferred via ZkSync, Starknet, EVM, and Solana networks earlier than being cashed out by way of OTC brokers. They transformed to Monero (XMR) or traded on Hyperliquid. This advanced chain-hopping made the funds troublesome to hint.
Nonetheless, on-chain sleuth revealed new proof means that connections between the ZKasino rip-off and a current mission known as WhiteRock Finance (WHITE).
Investigators discovered monetary hyperlinks between the tasks, together with shared pockets addresses and transactions routed via on the spot exchanges. An e mail deal with related to WhiteRock’s deployer was additionally tied to Ildar IIham, the alleged ZKasino mastermind.
Cryptocurrency exchanges are being urged to delist the WHITE token and conduct thorough due diligence. In the meantime, authorities proceed investigating the ZKasino case, with trials pending for the arrested suspects.
It is a tone-setting case,” stated Selden, a member at legislation agency Cole Schotz PC. “We have now victims on American streets, and the Division made clear they didn’t need to await an arrest to truly be sure that the crypto was really seized.
Across the globe, cryptocurrency scams are surging, with fraudsters utilizing refined ways like rug pulls, phishing, and faux investments. As losses develop, legislation enforcement businesses worldwide are forming alliances to fight these crimes.
Worldwide process forces and crypto sleuths are working arduous to trace stolen funds, arrest perpetrators, and defend traders.
Additionally Learn: Avalanche Worth Eyes $25 as Community Exercise Rebounds Sharply
