ZKasino initiates ETH refund process amid mounting scam allegations
Despite the update posted on ZKasino's Medium page, some investors have expressed doubts about the authenticity of the process. The process and 72 hour window is questionable and may be a scam
Blockchain-based gambling platform ZKasino has initiated a 72-hour refund process, which will return funds to its investors. This decision comes a month after the project was accused of operating a $33 million rug pull. Despite the refund process being called a "2-step bridge back process" by the project, some investors remain skeptical about the authenticity of the claim and the project's intentions.
In a Medium post on May 28, ZKasino stated that "bridgers" can sign up and bridge back their Ether (ETH) at a 1:1 ratio.
The refund process requires the "bridger" to send back their full Zkasino (ZKAS) token balance from the original address they used for their initial ETH investment. ZKasino promised to open a claim portal after a data verification process. However, investors who opt for the refund will forfeit any allocated ZKAS and the remaining 14 months of ZKAS release. Despite the update being posted on ZKasino's Medium page, some investors have expressed concerns about the authenticity of the refund process. Questions have been raised about the choice of a 72-hour window, and some have shared concerns about the possibility of the sign-up page being a wallet drainer or scam.
