Binance and Dutch authorities collaborated to address a significant online gambling network. ZKasino, an online platform that deceived investors by promising them larger profits in a short period of time, was the main target of the inquiry.
Binance has already worked with foreign law authorities to combat cryptocurrencycurrency fraud. Then, in October 2023, Binance assisted Thai authorities in dismantling a “pig butchering” plot that sought to ensnare victims and amass $277 million in cash.
The 26-year-old offender is suspected by the police authorities of being the one who planned the swindle. The assets uncovered by the investigation totaled 11.4 million euros. These cryptocurrencycurrency-stored assets were discovered in a bank account. This amount is but a tiny part of the $30 million in cryptocurrencycurrency that ZKasino processes globally.
Although Binance’s collaboration with law enforcement to combat cybercrime is commendable, it is still unclear if the ZKasino victims will receive full compensation.
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