Dutch Authorities Crack Down on ZKasino Crypto Gambling Scam Involving ZK Coin (ZKC)
- The Netherlands authorities have arrested a 26-year-old man in connection with a crypto gambling scam involving the platform ZKasino.
- The arrest is part of an ongoing investigation into charges of fraud, embezzlement, and money laundering.
- Assets worth approximately 11.4 million euros ($12.2 million) were seized during a search of the suspect’s residence.
Dutch authorities have busted a major crypto gambling scam, arresting a key player in the fraudulent scheme and seizing millions in assets. The case serves as a stark reminder of the risks inherent in the crypto space.
Arrest and Seizure in ZKasino Scam
On Monday, Dutch authorities arrested a 26-year-old man implicated in a rug pull scheme involving the Web3 gambling platform ZKasino. The Fiscal Information and Investigation Service of the Netherlands (FIOD) is leading the investigation into charges of fraud, embezzlement, and money laundering. During a search of the suspect’s residence, law enforcement seized both physical and digital records, as well as assets amounting to approximately 11.4 million euros ($12.2 million). These assets included real estate holdings and a range of cryptocurrencies.
ZKasino’s Deceptive Practices
ZKasino was initially promoted as a decentralized gambling network. However, the platform altered its token redemption policies at the time of its launch, effectively blocking investors from reclaiming their bridged ether tokens—a rever... Read the full article for FREE at COINOTAG!
