Key Takeaways:
- Dutch authorities arrested a 26-year-old man for his involvement in the ZKasino online gambling scam, facing charges of fraud, embezzlement, and money laundering.
- Approximately 11.4 million euros in assets, including cryptocurrencies, real estate, and luxury vehicles, were seized during the operation.
- ZKasino falsely promised investors a return within 30 days, but the platform’s smart contract was designed to prevent fund returns, leading to a significant loss of $33 million in digital currencies.
In a significant crackdown on cryptocurrency fraud, Dutch authorities have apprehended a 26-year-old man in connection with the ZKasino online gambling scam.
The arrest was executed by the Fiscal Information and Investigation Service (FIOD) on April 29.
DUTCH POLICE ARRESTED SUSPECT IN ZKASINO CRYPTO GAMBLING PROBE
— BSCN (@BSCNews) May 3, 2024
– Dutch authorities arrested a 26-year-old man linked to the ZKasino crypto gambling platform investigation.
– Following the arrest, over 11.4 million euros worth of assets, including real estate, a luxury car, and… https://t.co/DFRD2fHL2J pic.twitter.com/NdPoS03MiS
The suspect is facing charges of fraud, embezzlement, and money laundering.
During the operation, Dutch law enforcement confiscated approximately 11.4 million euros (equivalent to $12.2 million) in various assets, including cryptocurrencies, real estate, and luxury vehicles.
This development was reported by FIOD on May 3.
🚨 Dutch authorities have arrested a suspect linked to the #ZKasino online scam, seizing over $12 million in assets.
— Satoshi Club (@esatoshiclub) May 3, 2024
The 26-year-old faces charges of fraud, embezzlement, and money laundering.
The platform reportedly deceived investors, leading to significant losses.
This arrest is notably the first in the case of Zkasino, a platform accused of defrauding investors of at least $33 million in digital currencies.
Initially, ZKasino had assured investors a return of their investments within 30 days.
However, investigations revealed that the platform’s smart contract was structured in a way that essentially ruled out the possibility of returning the funds, as per the authorities’ findings.
Breaking: the Dutch police just arrested someone in connection with the ZKasino scam. Over 11.4 million euros in assets were seized including cryptocurrency and a luxury car. https://t.co/6i2xKb63m7
— FatMan (@FatManTerra) May 3, 2024
Following his arrest, the court has ordered that the suspect’s detention be extended by an additional 14 days to facilitate further investigation into the sprawling scam.
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