Crypto Exchange Makes a Statement on the Project that Disappeared with 32 Million Dollars of User Funds

There are new developments today regarding the ZKasino (ZKAS) project and its altcoin, which was expected to launch its token yesterday but whose listing was canceled by MEXC due to notifications that users could not withdraw their funds.

The funds in question cannot be withdrawn from ZKasino's native platform and there are no issues with general altcoin withdrawals on the MEXC exchange.

Cryptocurrency exchange MEXC, in its statement to the Chinese local media, said that they were only involved in the project as investors and that they, as investors, were also victims.

Examining today's onchain data, it appears that ZKasino transferred 10,515 ETH ($33.18 million) deposited to ZKasino by a user bridge to Lido Finance. Rewards are earned by staking ETHs on Lido Finance.

In the previous period, ZKasino announced the completion of a Series A financing round worth $ 350 million with the participation of MEXC, Big Brain Holdings, Trading_axe, Pentoshi and Sisyphus. However, there are also claims that this valuation and the names participating in the financing round did not actually participate in the round, and that this was a fake news shared by the ZKasino team.

In an article previously published by ZigZag, another cryptocurrency platform, some claims were made that the ZKasino team was a fraudster.

*This is not investment advice.