Connect with us

Gambling

Binance Aids Dutch Probe into ZKasino Crypto Fraud Scheme

Published

2 weeks ago

on

Binance teamed up with Dutch officials to tackle a major online gambling racket. The investigation was focused on ZKasino, an online site that tricked investors by allocating them with higher returns over a short time.

This is not the first time Binance has collaborated with international law enforcement to stop crypto fraud. Back then in October 2023, Binance helped Thai officials in destroying a “pig butchering” scheme that was supposed to trap victims and collect money worth $277 million.

The police authorities suspect that the 26-year-old culprit may be the one who has organized the scam. The investigation resulted in a total of 11.4 million euros of assets. These assets were found in a bank account and stored in cryptocurrencies. This figure represents only a small portion of the global $30 million crypto flows through ZKasino.

Binance’s cooperation with authorities to tackle crypto-related crime is a good measure, but it is still unknown whether the victims of the ZKasino will be fully compensated.

Also Read: MakerDAO Reveals New Stablecoin & Governance Token

Related Topics:
Continue Reading