Over $20 million in bridging Ether has been suddenly returned to ZKasino’s wallet, three weeks following suspicions of an exit scam.
A $JAIL stream confirmed the return of approximately $21 million worth of wstETH (wrapped Lido staking ETH) to the project’s wallet, raising expectations for impacted investors, with the transfer representing around 6,021 wstETH, or two-thirds of the lost cash, fueling discussion about probable refunds.
Authorities recently made an arrest relating to the alleged swindle, seizing assets worth $12.2 million, including bitcoins and luxury items. Binance’s investigative efforts and asset freezes have also assisted to progress in the case.
ZKasino initially tempted users by delivering airdrops of its ZKAS token in exchange for bridging ETH, promising ETH returns. However, instead of honoring these pledges, the project moved around $33 million to the Lido Finance staking system.
This development signifies a probable conclusion to the ZKasino crisis and a step forward in preventing fraudulent operations in the cryptocurrencycurrency business.
The repatriation of cash to ZKasino’s wallet offers optimism to concerned customers amidst continued cryptocurrency concerns. This incident adds to the $25.7 million lost in cryptocurrency scams and hacks in April, demonstrating a drop in such instances compared to previous years.
Also read: Binance Plays Key Role in Dutch Probe of ZKasino Crypto Fraud Scheme
