Dutch Anti-Fraud Agency Arrests Man Allegedly Involved in ZKasino Rug Pull
Dutch Anti-Fraud Agency Arrests Man Allegedly Involved in ZKasino Rug Pull
In a notable crackdown on crypto fraud, the Dutch anti-fraud agency FIOD has arrested a 26-year-old man suspected of fraud, embezzlement, and money laundering concerning the ZKasino rug pull.
Dutch Agency Investigates ZKasino Rug Pull
FIOD initiated a rigorous investigation on April 25, following alerts and intelligence from various sources. The focus was a significant rug pull involving the gambling platform ZKasino, where over $32 million was invested by global victims.
“Investors were led to believe that they would get their investments back within 30 days. That did not happen. The smart contract was set up in such a technical way that suggests that this return was not intended,” FIOD wrote.
Seizure of Assets and Continued Investigation
During the operation, authorities seized digital data carriers and assets, including real estate, a luxury car, and cryptocurrencies amounting to over €11.4 million (~ $12.2 million). The suspect's detention was extended for further investigation.
Industry Response and Collaboration
The collaboration between FIOD and Binance's Financial Crime Compliance Team resulted in the recovery of millions in cryptocurrencies. There are possibilities of more arrests as the investigation progresses, with industry experts and figures like Vitalik Buterin criticizing the fraudulent activities.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.