The world of crypto and decentralized finance (DeFi) is no stranger to controversy, and the latest project to raise red flags is ZKasino, a gambling platform promising anonymity and high stakes. However, a storm of accusations paints a grim picture, suggesting ZKasino might be nothing more than a meticulously crafted house of cards ready to crumble.
ZKasino Accused Of Diverting Funds And Deceiving Investors
Trouble began brewing for ZKasino in March when ZigZag, a rival decentralized exchange, leveled serious accusations. ZigZag claims ZKasino not only lied about its funding but also diverted funds meant for development into personal pockets. The accusations don’t end there.
ZKasino allegedly failed to pay contractors who helped build the platform, further eroding trust.
I’m gonna lay this out since it gets worse and worse everyday.
Multiple people have approached me in the past week with allegations that the @ZKasino_io team owes them money or defrauded them in some way.
Multiple former employees and contractors have contacted me to let me…
— ZigZag Exchange (@ZigZagExchange) March 23, 2024
These allegations gained traction when ZKasino users voiced concerns about a broken promise. Initially, ZKasino promised users the ability to withdraw their bridged Ethereum (a process allowing Ethereum to be used on other…