Alleged Rug Pull Plunges ZKasino Investors into Turmoil: Suspect Arrested and $12 Million Seized

Alleged Rug Pull Plunges ZKasino Investors into Turmoil: Suspect Arrested and $12 Million Seized

ZKasino, a prominent blockchain casino and gambling platform, finds itself embroiled in controversy as investors cry foul over an alleged rug pull. The situation escalated as Dutch authorities apprehended a 26-year-old suspect connected to the scam, seizing assets worth over $12 million in the process. Despite mounting accusations, ZKasino continued to provide updates before abruptly disappearing from the public eye.

The Fiscal Information and Investigation Service of the Netherlands (FIOD) divulged that the investigation into the suspected rug pull commenced on April 25, prompted by online reports and intelligence gathered by FIOD’s dedicated units. Collaborating closely with Binance’s Financial Crime Compliance team, authorities swiftly moved to detain the alleged perpetrator on April 29, extending the detention period to facilitate ongoing inquiries.

During the raid, authorities uncovered a trove of assets, including real estate, luxury vehicles, and a variety of cryptos, collectively valued at approximately €11.4 million, equivalent to $12.25 million. This significant seizure underscores the magnitude of the alleged fraud perpetrated by ZKasino and its affiliates.


The saga of ZKasino’s downfall traces back to March, when decentralized exchange ZigZag first sounded the alarm bells, alleging non-payment to developers and contractors involved in the platform’s development. Further exacerbating concerns, ZigZag cast doubts on the authenticity of ZKasino’s fundraising efforts and valuation, sparking a wave of skepticism within the crypto community.

As the turmoil unfolded, users began reporting anomalous activities on the ZKasino website, prompting widespread suspicion. The arrest of a key suspect and the subsequent seizure of assets signal a pivotal moment in the ongoing investigation. However, with the inquiry still underway, the possibility of additional arrests looms large, underscoring the inherent risks associated with cryptocurrency investments and the imperative of exercising utmost diligence.