On April 29, authorities apprehended a 26-year-old in connection with an extensive gambling scam, specifically targeting the purported online gambling venue ZKasino. The suspect faces charges of fraud, embezzlement, and laundering money. The operation led to the seizure of assets valued at over 11 million euros, including real estate, a high-end vehicle, and assorted cryptocurrencies.
The criminal probe, initiated on April 25, was spurred by alerts on platform X (formerly Twitter) and insights from the intelligence branches of the FIOD. ZKasino claimed to function as a gambling and blockchain casino, deceiving investors with promises of a 30-day return on their contributions. However, these returns never materialized, hinting at a potential “rug pull” scheme, a method where funds are abruptly withdrawn from a project, leaving investors with significant losses.
Collaborative Efforts in Tracking Digital Currency
During the investigation, the FIOD collaborated extensively with the Financial Crime Compliance and Investigations Team of Binance, a leading cryptocurrency exchange. This partnership was instrumental in securing millions in digital currencies. As part of the ongoing inquiry, a residence was raided, and digital storage devices were confiscated, further solidifying the case against the suspect, whose custody has been extended by a magistrate for an additional fourteen days to facilitate further investigation.
The investigative team, along with the Public Prosecutor’s Office, has been conducting digital financial analyses to track down the participants of the scam. Communicating the necessity of their cooperation is crucial for the restitution of the stolen funds to the defrauded parties. The authorities have not dismissed the possibility of additional arrests as the investigation progresses.
