An investigation by crypto investigator ZachXBT has revealed shocking connections between the $30 million exit scam of Zkasino and the new project WhiteRock Finance.
Overview of the Zkasino Situation
Zkasino is a crypto project related to gambling that raised over $33 million in investments during a presale. However, instead of delivering on its promised roadmap, the Zkasino team is reported to have misappropriated these funds.
Arrest of Elham Nourzai and Money Laundering
In April 2024, Elham Nourzai, also known as Derivatives_Ape, was arrested by Dutch authorities. Some of the stolen funds from the Zkasino scam were seized during the arrest. Later in 2024, after Elham's release, the stolen money began moving again, being laundered through multiple blockchains such as zkSync, Starknet, Solana, and EVM-based networks.
Suspicious Activity of WhiteRock Finance
Soon after, a new cryptocurrency project named WhiteRock Finance emerged, raising immediate alarms. The group behind it remained anonymous and had no known background in the cryptocurrency community. They were also accused of creating fake partnerships to appear more legitimate.
ZachXBT's investigation emphasizes the importance of vigilance within the crypto community, particularly with the emergence of new projects that may have questionable connections.
