ZKasino Rugs Users for $30m, Investors Out for Blood
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Samuel McCulloch
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ZKasino, a project that appeared to be legitimate, has been accused of stealing $33 million from users. The project claimed to have raised funds in a series A round and had notable investors. However, red flags started to appear, including allegations that the founders had stolen money from a previous project. The project then changed the terms and conditions of its bridge program, forcibly converting users' ETH into its native token with a 15-month lockup. Affected parties are now seeking legal action, and there is anger and frustration among investors.
Chapters
00:00 Introduction and Questioning the Existence of Scams in Crypto
08:22 Changing Terms and Conditions and the Fallout
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