ZKasino launch leads to widespread outrage as $33 million promised to investors is sent to Lido
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- ZKasino Launch and Controversy:
- ZKasino, a crypto project, raised $350 million in valuation with backing from investors like MEXC.
- Despite initial positive signs, accusations of mismanagement surfaced against the team, including allegations of fund theft.
- At launch, ZKasino changed plans, automatically converting users' ether into $ZKAS tokens instead of allowing refunds.
- Users reacted negatively to the change, accusing ZKasino of being a rug pull scheme.
- Token launchpads and exchanges canceled ZKasino's listings, leaving investors concerned about their funds.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
