ZKasino, the betting platform, is currently facing uncertainty with rumors suggesting that its official Telegram channel has been banned. However, crypto.news has confirmed that the account is still active. Despite this, ZKasino has not responded to requests for comment, causing speculation about the platform’s financial activities and management practices. These allegations, brought to light in a social media post by ZigZag founder Kedar Iyer, have contributed to a growing sense of distrust surrounding ZKasino.
Iyer claims that members of the ZKasino team defrauded former contractors and employees by not paying them for their work in building the platform. He openly criticized ZKasino founders, alleging that they diverted funds intended for ZigZag developers to the development of ZKasino. Iyer also claimed that ZKasino founders, particularly Derivatives Monke, managed the fundraising activities for ZigZag and redirected $15 million to ZKasino-controlled addresses. Additionally, crypto journalist Colin Wu spotlighted a change to ZKasino’s bridge interface, drawing attention to the removal of a crucial sentence about the return and bridging of Ethereum funds.
This alteration, documented by the Wayback Machine, has raised concerns about the platform’s transparency, motives, policies, and procedures, and may also impact deposits in ZKAS. MEXC, another entity related to ZKasino, has stated that it will announce the resumption of ZKAS’s listing and withdrawals at an unspecified date. However, it did not provide a clear reason for the suspension, leaving users unable to access their funds or use the betting platform as intended.