{"id":21498,"date":"2024-05-29T10:30:38","date_gmt":"2024-05-29T07:30:38","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21498"},"modified":"2024-05-29T09:53:30","modified_gmt":"2024-05-29T06:53:30","slug":"zkasino-initiates-refund-process-after-alleged-33-million-rug-pull","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/zkasino-initiates-refund-process-after-alleged-33-million-rug-pull\/","title":{"rendered":"ZKasino Initiates Refund Process After Alleged $33 Million Rug Pull"},"content":{"rendered":"

Following a 72-hour “2-step bridge back process,” blockchain-based gaming business ZKasino<\/strong> claims to have returned funds to investors a month after a claimed $33 million “rug pull.”<\/p>\n

Refund and Project Continuity Efforts<\/strong><\/h2>\n

“We are now starting the 2-step bridge back process in which bridgers can sign up and bridge back their ETH at a 1:1 ratio,”<\/em>\u00a0 ZKasino <\/strong>stated in a May 28 Medium post, adding that the team hasn’t given up on the project.<\/p>\n

“The ZKasino<\/strong> team is currently working hard to ensure the project’s success. We would like to once again reassure everyone that we are here to provide and keep up our best efforts.”<\/em><\/p>\n

Promising that a claim portal would be established following a data verification procedure, the refund method entails having the “bridger” give back their whole Zkasino (ZKAS) token balance from the original address they sent their initial Ether investment.<\/p>\n

Any investors wishing their ETH<\/strong> back will, however, forfeit any assigned ZKAS as well as the remaining 14 months of ZKAS supply, ZKasino added.<\/p>\n

While some have questioned why they have selected a 72-hour limit, others have expressed worries over whether the sign-up website would be a wallet drainer or fraud.<\/p>\n

ZKasino’s X account has not published the Medium article, just the ZKasino builder at the heart of the dispute known as “Derivatives Monke.”<\/p>\n

Related: The ZKasino fraud defendant was arrested in great part because of Binance.<\/p>\n

ZKasino faced criticism last month for breaking a promise to reimburse investor ETH upon network launch. Instead, it sent Lido $33 million worth of investor and customer cash.<\/p>\n

With all bridging ETH<\/strong> converted to ZKAS at a “discounted rate of $0.55,”<\/em> the site said at the time that it “made changes from our initial plan”<\/em> on a 15-month vesting timeline.<\/p>\n

This Might Interest You:<\/span>Starknet Foundation Allocates $25.2 Million in STRK Tokens to Top Projects<\/em><\/a><\/p>\n

Many claimed the forum engaged in an “exit scam”<\/em>.<\/p>\n

Just over a week later, on April 29, Dutch officials detained one of the individuals thought to be in charge of the “rug pull.”<\/p>\n

A few days later, Derivative Monke publicly refuted the accusations of rug pull on X, restoring nearly two-thirds of the pilfers to the ZKasino multisig wallet.<\/p>\n

“We regret the spread of false information about the ZKasino_io initiative. We vehemently disagree with FIOD’s and Binance’s assertions that ZKasino engaged in a so-called ‘exit scam’ or ‘rug pull,'”<\/em> they wrote.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following a 72-hour “2-step bridge back process,” blockchain-based gaming business ZKasino claims to have returned funds to investors a month after a claimed $33 million “rug pull.” Refund and Project Continuity Efforts “We are now starting the 2-step bridge back process in which bridgers can sign up and bridge back their ETH at a 1:1<\/p>\n","protected":false},"author":6,"featured_media":20071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,10,1],"tags":[5660,6450],"class_list":["post-21498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-economy-news","category-genel","tag-zkasino","tag-zkasino-refund"],"yoast_head":"\nZKasino Initiates Refund Process After Alleged $33 Million Rug Pull<\/title>\n<meta name=\"description\" content=\"ZKasino begins refunding investors following a $33 million rug pull allegation, promising project 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