ZKasino Starts 72-Hour Refund Process Post $33M Allegations

by

As a seasoned crypto investor with a few scars from past experiences, I’ve learned to be cautious when it comes to projects that have raised red flags. The news of ZKasino’s alleged $33 million “rug pull” and the subsequent 72-hour refund process has piqued my interest, but also raised some concerns.

As a crypto investor, I’ve recently learned that the blockchain gambling project ZKasino is undergoing a 72-hour refund process for its investors due to accusations of a “rug pull” involving approximately $33 million in funds. In simpler terms, this means that some people are claiming that the project team has taken the money and left, leaving investors with no way to recover their investments. The team is now working on returning the funds as quickly as possible during this three-day window.

I recently came across an announcement from ZKasino on Medium regarding their “2-step bridge-back process,” which enables investors to retrieve their Ethereum (ETH) at a one-to-one ratio. This move has generated some controversy, yet the team remains dedicated to achieving success for their project.

To take part in the refund process for ZKasino (ZKAS) tokens, investors need to transfer their token holdings back to their initial wallet addresses. By doing so, they will relinquish any previously assigned ZKAS and waive any upcoming release schedules.

The 72-hour period has sparked debate, as some express worry about possible financial drains or fraudulent activities. It’s important to note that this information was disseminated through a post by “Derivatives Monke,” who is identified as the builder of ZKasino, rather than their official account.

As a researcher looking into recent developments regarding ZKasino, I’ve come across criticism leveled against the platform last month over allegations that they diverted investor funds towards staking instead of returning them as promised. Dutch authorities have taken action in response to these claims, making several arrests related to the incident and recovering some of the funds. ZKasino, however, vehemently denies any involvement in an “exit scam” or a “rug pull.”

ZKasino’s 3-day refund policy demonstrates their dedication to alleviating investor worries and restoring faith in the venture.

Read More

2024-05-29 07:48