Binance’s Key Role in ZKasino Scam Suspect Arrest

The investigative team at Binance, the world’s largest cryptocurrency exchange, played a crucial role in assisting law enforcement in apprehending the suspect involved in the ZKasino scam. The team was prompted to look into this fraudulent gambling platform due to the outrage from the community. Using a combination of on-chain tracking and open-source intelligence methods, the researchers were able to identify the individual responsible for the scam. Upon discovering the suspect behind the smart contracts, Binance promptly notified law enforcement authorities, leading to the arrest of the 26-year-old perpetrator. The arrest resulted in the seizure of €11.4 million ($12.2 million) worth of digital assets, real estate, and luxury cars.

This marks the first arrest in the ZKasino fraud case, where investors lost a minimum of $33 million. The platform initially promised investors to return their investments within 30 days, but Dutch authorities discovered that the smart contract never intended to uphold this promise. Binance successfully froze millions of dollars in stolen crypto through the ZKasino rug pull after law enforcement issued a warrant against the attacker’s accounts. The main individual responsible for the scam is still at large.

Binance’s investigations team has been collaborating with Dutch authorities to provide on-chain forensics, helping them trace the flow of funds and understand how the malicious ZKasino smart contracts were set up. The ZKasino rug pull managed to attract over 10,000 investors, who collectively invested at least 10,515 Ether (ETH) before the perpetrator silently started draining user funds. The crypto community played a crucial role in aiding the arrest by revealing the identity of the ZKasino suspect. Popular crypto analyst FatMan and others suspected that the scammer was the pseudonymous ZKasino builder known as Derivatives Ape, a theory that Binance confirmed. In fact, the suspect’s past comments on Twitter further fueled suspicions within the community.

Despite the arrest, the stolen funds have continued to move on-chain, indicating the involvement of multiple other attackers in the rug pull. Binance’s investigations team will maintain close collaboration with authorities to ensure the return of the stolen funds to the affected investors.

Ravi Marable

Ravi Marable

14 thoughts on “Binance’s Key Role in ZKasino Scam Suspect Arrest

  1. Binance’s close collaboration with authorities is key in ensuring the return of the stolen funds to the affected investors. Together, we can minimize the impact of scams and make the crypto space safer.

  2. My faith in the crypto community has been reaffirmed by their role in revealing the suspect’s identity. We stand strong together against scams and fraud!

  3. Kudos to Binance for successfully freezing millions of dollars in stolen crypto through the ZKasino rug pull. The crypto community can rely on Binance’s investigations team for their expertise in combating fraud!

  4. Hats off to crypto analyst FatMan and others who suspected the scammer’s identity. Their keen observation and involvement in this case have made a real difference. 🧐🔍📢

  5. Kudos to Binance for their commitment to the crypto community’s safety. The arrest of the main suspect is just the beginning, and together with authorities, we will ensure that justice is served. 🌐⚖️🔒

  6. A round of applause for Binance and the Dutch authorities! This arrest sends a strong message to scammers that they won’t get away with their malicious schemes. Justice will prevail! 🚔💥🔒

  7. It’s concerning to know that despite the arrest, there are still other attackers involved in the rug pull. But with Binance’s continued collaboration with authorities, we can hope for the return of stolen funds to the affected investors.

  8. Binance’s use of on-chain tracking and open-source intelligence methods showcases their innovative approach to fighting scams. They continue to set the bar higher for security and protection in the crypto world.

  9. The ZKasino scam was a terrible betrayal for investors, but with Binance’s investigations team on the case, we can rest assured that they are doing everything possible to bring justice and recover the stolen funds. 🚀💪🌟

  10. It’s alarming that the stolen funds are still moving on-chain, suggesting the involvement of other attackers. Binance needs to step up their game and put an end to this!

  11. This arrest is a major milestone in the fight against crypto scams. It serves as a warning to would-be criminals that they can’t hide in the anonymity of the blockchain forever. Justice will catch up with them!

  12. This arrest is a significant step forward in the ZKasino fraud case. The investors who lost millions can finally find some solace knowing that justice is being served.

  13. Binance should have been more transparent about the risks associated with investing in the ZKasino platform. They have a responsibility to protect their users and provide them with accurate information.

  14. Wow, what a fantastic job by the investigative team at Binance! They truly went above and beyond to assist law enforcement in apprehending the suspect in the ZKasino scam.

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