Ah, dear reader, gather ’round and let me regale you with a tale of deception and betrayal in the world of decentralized finance. The founder of WhiteRock Finance, Ildar Ilham, has been taken into custody by the authorities in the United Arab Emirates (UAE) as part of allegations over a $30-million scam through ZKasino.
As reported by the esteemed crypto sleuth ZachXBT, UAE authorities arrested Ilham in connection with an investigation into “wide-scale fraud” surrounding ZKasino. The report suggests that WhiteRock was connected to ZKasino’s $30 million fundraising, which followed the platform’s launch in April 2024. Alas, more than a year later, the funds still have not been returned to the poor souls who invested in this dubious venture.
In April 2024, Dutch authorities arrested a 26-year-old man, reportedly crypto personality Elham Nourzai, on claims of fraud, embezzlement, and money laundering, citing his involvement in the ZKasino scam. And now, Ilham’s arrest is connected to the investigation against Nourzai and ZKasino, with his extradition proceedings to the Netherlands underway.
Another individual suspected to be involved with the case, Lior Ben Zakan, was not mentioned in the arrest report. But fear not, dear reader, for the plot thickens as we delve deeper into this sordid tale of greed and deception.
WhiteRock’s Native Token Plummets After Arrest
Following reports of Ilham’s detainment, the price of WhiteRock’s native token, WHITE, dropped more than 40% on Thursday, to $0.0003909 from $0.0006582. It seems that the market has spoken, and it is not pleased with the recent turn of events.
This case is but one of the latest scams targeting crypto users. US authorities reported on Wednesday that they had recovered roughly $40,000 out of more than $250,000 taken from an individual who donated to a fraudulent inaugural committee. Ah, the irony!
So, dear reader, as you ponder the fate of Ildar Ilham and the many victims of this crypto scam, remember to always tread carefully in the world of decentralized finance. For as the great Fyodor Dostoevsky once said, “Man is a mystery: if you spend your entire life trying to puzzle it out, then do not say that you have wasted your time. I occupy myself with this mystery, because I want to be a man.”
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2025-07-04 01:14