Over $20 million in bridged Ether has been mysteriously returned to ZKasino’s wallet, three weeks after accusations of an exit scam.
A $JAIL feed confirmed the return of nearly $21 million worth of wstETH (wrapped Lido staking ETH) to the project’s wallet, raising hopes for affected investors, with the move representing around 6,021 wstETH, or two-thirds of the missing funds, sparking speculation about potential refunds.
ZKasino initially enticed users by offering airdrops of its ZKAS token in exchange for bridged ETH, promising ETH returns. However, instead of honoring these promises, the project redirected approximately $33 million to the Lido Finance staking protocol.
Authorities recently made an arrest related to the alleged scam, seizing assets worth $12.2 million, including cryptocurrencies and luxury items. Binance’s investigative efforts and asset freezes have also contributed to progress in the case.
The return of funds to ZKasino’s wallet offers hope to affected users amidst ongoing crypto concerns. This incident adds to the $25.7 million lost in crypto scams and hacks in April, marking a downturn in such incidents compared to previous years.
This development signals a potential resolution to the ZKasino debacle and a step forward in combating fraudulent activities in the cryptocurrency sector.
Also Read: Binance Aids Dutch Probe into ZKasino Crypto Fraud Scheme
