Vitalik Buterin sounds the alarm over ZKasino

The Ethereum founder has become the latest to issue a stark warning over ZKasino, a project that has been flagged as a scam

ZKasino, a cryptocurrency online casino, has been flagged by another prominent blockchain and crypto casino guru, Vitalik Buterin, who warned that the decentralized gambling platform may actually be using various techniques to put consumers at risk.

ZKasino came under a lot of fire on X, previously Twitter, with investors lambasting the platform for taking their funds and moving it onto another staking protocol, Lido. This was seen as an affront and betrayal of consumer trust, with 10,000 users contributing as much as 10,500 Ether tokens in total.

The response to this decision was vehement, with consumers arguing that the project was another potential “rug pull” and notified others to steer clear. ZKasino, one user on X said, had cost people $33m, which could as well be one of the highest rugs pull that has been registered so far in the year.

Interestingly, Buterin was hardly the only person roasting the casino. ZKasino also came under heavy blows from fellow casinos, Rollbit, which did not miss the opportunity to highlight the scam. In the meantime, Big Brain Holdings, an investor in ZigZag Labs, which holds ZKasino, has distanced itself from the project.

Whatever the outcome of this case, the fact that Buterin is now openly criticizing the platform, and scam accusations have been levelled against the platform openly, which will most likely deplete its prospective new investors, or worse – turn into a self-fulfilling prophecy with ZKasino simply deciding to go dark.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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