A new fraud case in the Netherlands

Recently, Dutch authorities arrested a person suspected of being linked to fraud operations linked to the online gambling platform “ZKasino”.

During the operation, authorities confiscated assets worth approximately 11.4 million euros ($12.2 million), which included cryptocurrencies, real estate, and luxury vehicles.

Based on a report by the Dutch Financial Information and Investigation Service (FIOD), the 26-year-old man was arrested on charges related to fraud, embezzlement, and money laundering.

Reports indicate that the scam has scammed victims around the world out of more than $30 million in cryptocurrencies.

Investigations began on April 25 after suspicious activities were reported on the “ZKasino” platform, which claimed to be a blockchain gambling platform and promised investors large returns within 30 days, promises that it did not fulfill.

The FIOD report revealed that the platform had used a “rug-pulling” tactic, whereby the platform’s smart contract hinted at a deliberate scheme to withhold investor returns.

As a result of the raid, the authorities confiscated assets worth more than 11.4 million euros.

The suspect appeared before the judge, who decided to extend his detention for fourteen days to allow further investigation.

On the other hand, the platform worried investors on April 20 after a transaction revealed that “ZKasino” had transferred all of its Ethereum holdings, estimated at 10,515 ETH, to the Lido staking protocol.

In addition, changes to the platform's website and the removal of assurances to investors about the return of ETH, as well as ZKasino's claims of successfully closing a $350 million investment round backed by prominent companies such as MEXC and Big Brain Holdings, which later clarified that it had not... She invests in “ZKasino” and describes it as a fraudulent platform.

Posted Using InLeo Alpha