Netherlands’ Fiscal Information and Investigation Service (FIOD) apprehended one of ZKasino’s founders on April 29. The 26-year-old man was detained on charges of fraud, embezzlement, and money laundering. The criminal probe was initiated on April 25th, spurred by reports on platform X and intelligence from FIOD’s departments.During the raid, authorities seized assets worth over 11.4 million euros, including real estate, luxury vehicles, and crypto. The suspect’s detention has been extended for 14 days to provide time for further investigation.
Moreover, Binance’s Financial Crime Compliance and Investigations Team was crucial in securing millions in crypto assets. The FIOD and the Public Prosecutor’s Office are reaching out to those involved in the scam, emphasizing the need for their cooperation to refund the victims.As reported by Crypto Briefing, ZKasino founders fled with $33 million in Ether (ETH) on April 20, after swapping all the ETH locked in the protocol’s bridge for their native token, ZKAS. Most of the funds were from users reportedly trying to get eligible for ZKAS airdrop.Less than 24 hours later, ZKasino co-founders disappeared from social channels and the project’s communities started banning every user who accused them of conducting an exit scam.Furthermore, an undisclosed amount of the ZKAS token was sold in a pre-sale event, which led to victims’ losses. Investors organized themselves in different Telegram groups to reach out to authorities and try to get legal repercussions for the founders.
