ZKasino, a decentralized gambling network, is currently facing significant challenges and accusations within the crypto community. The platform has been accused of a $32 million Ethereum rug-pull, with allegations of funds being diverted for personal use instead of project development.
The controversy began when ZigZag Exchange accused ZKasino of misusing funds from the ZigZag Treasury and failing to pay developers and contractors. According to ZigZag, the $40 million ecosystem fund announced by ZKasino is not real and may never be paid out in any real currency.
Despite these allegations, ZKasino has dismissed the concerns as fear, uncertainty, and doubt (FUD) and stated that the network will still go live, albeit with delays due to exchange listings. However, the drama surrounding the project has already led to MEXC exchange canceling its token listing, citing the need to protect its users’ rights and interests.
As the situation unfolds, Ape Terminal has also stated that it is monitoring the project closely and will cancel token sales if the situation worsens. The controversy surrounding ZKasino serves as a reminder of the risks associated with decentralized platforms and the importance of due diligence in the crypto space.
For more information on this developing story, visit https://beincrypto.com/zkasino-crypto-betting-platform-rug-pull/.
