It has come to our notice that ZK Casino, in a most unexpected turn of events, has resumed its endeavors to address the lamentable affairs surrounding its now-defunct project, which has left many in a state of considerable distress. 🕵️♀️
Behold! The following tidings have been gleaned:
- 🎯 A mere fraction of the unfortunate souls have received their due-35% of those who once entrusted their ETH to this endeavor.
- 🧾 Another batch of payouts is anticipated, potentially elevating this number to 75% by the week’s end. One can only hope the remaining 25% shall not require an eternity to materialize.
- ⚖️ The matter of full recovery remains as enigmatic as ever, with disputes persisting for over a year. A most exasperating state of affairs!
ZK Casino, in its current guise, endeavors to bestow modest reprieves upon its erstwhile adherents, a gesture that, while commendable, pales in comparison to the grandeur of the losses incurred. The anonymous gentleman behind this venture, known as Derivatives Monke, has shared these updates on X, a platform most frequented by the discerning. 🧠
The said moniker reports that approximately 35% of addresses that once bridged ETH to the platform have now been remunerated, either via zkSync Lite or zkSync Era. Yet, the sums remain subject to adjustment, and some may find themselves enriched by added interest, depending on the whims of final balances. 🤔
For larger withdrawals, identity verification is required, a necessity, as the gentleman elucidates, born of legal obligations. A most prudent measure, though one wonders if it be not a tad excessive for such a plight. 🧾
We have just processed ~35% of all ETH withdrawal requests for @ZKasino_io bridgers (approx 2500/8000 addresses).
If you are among these ~35%, you will find your ETH either on:
– zkSync Lite: simply connect your regular EVM account and it should be…
– Derivatives Monke (@Derivatives_Ape) November 9, 2025
The Scam That Unfolded
ZK Casino, in its inception during April 2024, presented itself as a most enticing proposition: users could bridge ETH into its layer-2 chain, earn yield, and withdraw their original ETH at will. Instead, the project transformed these deposits into vested ZKAS tokens and staked the ETH on Lido, a maneuver most egregious. 🤡
Over 10,000 souls were ensnared, with losses estimated at a staggering $33 million. The project drew the ire of the crypto community, including the esteemed Mr. Buterin, who disputed its claims of employing zero-knowledge technology. A most curious oversight, to say the least. 🧠
On-chain researchers later linked the team to prior misdeeds, and Dutch authorities made arrests during the initial fallout. Yet, only a paltry share of funds was recovered, leaving many to ponder the futility of such endeavors. 🕳️
The Refund Process Now
The current refund progress, though a modicum of solace, does not herald a full resolution. Only a third of users have received their due, and the gentleman assures us that negotiations with multiple parties are underway. The update suggests another 40% may be processed next week, elevating total payouts to 75% of affected wallets. A most encouraging prospect, though one must question the patience of those awaiting their share. 🧩
Yet, the timeline remains as uncertain as a dance at a country ball, dependent on liquidity, legal pressures, and the handling of remaining on-chain assets. Many affected users, with their doubtless minds, remain skeptical, citing the protracted delays and lack of third-party oversight. A most lamentable state of affairs, indeed. 🤔
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2025-11-10 08:08