A purse linked to the $ 40 million Zkasino scam lost more than $ 27 million after a leveraged position was liquid, marked by what some in the crypto community call a dose of karmic justice.
Launched by Zkasino in April 2024, which attracts the investor’s capital by the promise of an aircop of its native token to users who have been bridged ether (Eth) on the platform.
However, instead of restoring funds, Zkasino has moved nearly $ 33 million to users eth in staking protocol Lido finance.
Almost a year later, the purse behind the alleged exploitation was lost for $ 27.1 million after the ETH price declined sharply, according to the blockchain analytics platform onchain lens.
Source: Onchain lens
“A scammer gets a dose of karma,” Onchain Lens wrote on an April 7 x PostAdding:
“The ZKCasino scammer, which scammed $ 40m+, closed the $ ET (20x) position in #hyperliquid, faced a total loss of $ 27.1M.”
Following the extermination, the affected users appear not closer to the recovery of their funds.
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The extermination came after a period of record-breaking selling in traditional equity markets that led to a correction in the crypto market, which saw the ethic price collapse of a near two people less than $ 1,480, last seen in May 2023.
Source: Lookonchain
Earlier on April 7, an anonymous crypto whale was forced to make a $ 14 million emergency deposit to avoid over $ 340 million ether liquidation.
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The zkasino exit scam
After being accused of running an exit scam, Zkasino said it initiated a 72-hour process to return funds to investors a month after transferring $ 30 million of user funds to Lido.
“We now start the 2-step process of the back of the bridge where bridgers can sign up and bridge their ETH in a 1: 1 ratio,” Zkasino said on a May 28, 2024, Medium PostAdding that the team did not give up on the project.
However, any investors who want their ETH back will lose any allocated ZKas tokens and the remaining 14 months of ZKas’s release, Zkasino said.
On April 29, 2024, Dutch authorities arrested One of the people suspected of being responsible for “rug pull.” After a few days, all the bridged eth declined The rug pulls allegations in X.
However, Zkasino is still missing ETH was returned almost a year after the incident.
“Unfortunately, everyone who sent ZKas has never heard anything from them,” a user, who spoke with the condition that his identity was not expressed, told Cointelegraph in August 2024.
https://www.youtube.com/watch?v=ABN8nvgdw34
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