ZKasino gives investors a 72-hour window to get their deposited ETH back
Blockchain-based gambling project ZKasino says it has begun a 72-hour “2-step bridging process” to return the money to investors, a month after an alleged $33 million “carpet pull”.
“We are now starting a 2-step bridging process where bridges will sign up and back their ETH at a 1:1 ratio,” Zcasino said in a May 28 Medium post, adding that the team is not giving up. Project.
“The Zcasino team is still working hard to make the project a success. We want to reassure everyone that we are here to deliver and continue our efforts.”
The refund process involves “Bridger” sending their entire Zkasino (ZKAS) token balance from the address they sent their initial Ether (ETH) investment to, promising that a claim portal will be opened after the data verification process.
However, any investors who wish to withdraw ETH will lose any allocated ZKAS and the remaining 14 months of ZKAS issuance, ZKasino said.
Some have questioned why they chose a 72-hour window, while others are concerned that the registration page could be a wallet drain or scam.
Medium's post was not shared by the ZKasino X account, at the center of a controversy known only to the ZKasino builder as “Derivatives Monk.”
Related: How Binance Played a Key Role in Arresting ZKasino Fraud Suspect
ZKasino last month announced Investor ETH. The network was criticized for breaking its promise to return after it went live. Instead, he sent $33 million in investor and user funds to Lido.
At the time, the platform said it had “made changes from our original plan,” with all bridges converted from ETH to ZKAS at a “reduced price of $0.055” over a 15-month schedule.
Many have accused the platform of engaging in “exit fraud”.
More than a week later, on April 29, Dutch authorities arrested one of those allegedly responsible for the “carpet pull”.
A few days later, two-thirds of the stolen funds were returned to ZKasino's multisig wallet when Derivative Monke publicly denied the allegations of pulling the carpet on X.
“We regret the spread of false information regarding the ZKasino_io project. “We strongly dispute FIOD and Binance's claims that ZKasino engaged in ‘withdrawal fraud' or ‘carpet pulling,'” they wrote.
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