ZachXBT, one of the leading analysts in the cryptocurrency world, has issued serious warnings about the WhiteRock (WHITE) project, indicating its possible connection to fraudulent schemes.
Accusations Against WhiteRock
ZachXBT claims that the project is run by a fake team, exaggerates user numbers, and may be linked to stolen funds from a scam called Zkasino.
The analyst highlighted several worrying elements of the project:
* Anonymous team with no identity or history. * False partnership claims. * Numerous wallets funded by live exchanges. * Unrealistic exaggeration of user numbers. * Lack of transparency in the USDX collateral structure.
Links to Zkasino
According to ZachXBT, the Zkasino project raised over $30 million in 2024, but the roadmap was not followed, and the funds were embezzled. In April 2024, Elham Nourzai was arrested in the Netherlands and later released. It is claimed that the stolen funds were laundered through various networks such as ZkSync and Solana.
ZachXBT noted that Zkasino funds were sent to an instant exchange, and similar amounts reached WhiteRock wallets.
Investigation Recommendations
ZachXBT called on cryptocurrency exchanges like MEXC and Gate.io to delist the WhiteRock project and conduct a deeper investigation into the team's background. He also suggested that Elham Nourzai and other individuals involved in the Zkasino scandal should be brought to justice.
Warnings from ZachXBT highlight the need for greater transparency in the crypto industry and timely responses to potential frauds, important for investor protection.
