WhiteRock Founder Faces Extradition in $30M ZKasino Fraud Case
Ildar Ilham, founder of WhiteRock Finance, has been detained in the United Arab Emirates (UAE) over allegations tied to a $30 million scam involving ZKasino, according to crypto investigator ZachXBT. This follows Dutch authorities’ earlier arrest of a suspect in the same case, showing the investigation’s international scope.
Details of the ZKasino Scam
ZachXBT’s report links WhiteRock Finance to ZKasino’s $30 million fundraising. After launching in April 2024, ZKasino promised token airdrops but failed to return investor funds, sparking fraud allegations.
International Legal Actions
Dutch authorities arrested 26-year-old Elham Nourzai in April 2024 on fraud charges related to ZKasino. Ilham’s arrest appears connected to this case, with extradition to the Netherlands pending.
Market Impact
News of Ilham’s detention caused WHITE, WhiteRock’s native token, to drop over 40% in value, demonstrating how legal issues can affect crypto prices.
Growing Problem of Crypto Scams
The ZKasino case highlights ongoing fraud challenges in crypto. Separately, US authorities recovered $40,000 from a $250,000 fraudulent scheme, showing the widespread nature of such crimes.
