WhiteRock Finance Founder Arrested Over $30 Million ZKasino Scam
Authorities in the United Arab Emirates (UAE) have arrested Ildar Ilham, the founder of WhiteRock Finance, a decentralized finance (DeFi) platform. He is suspected of being involved in a $30 million scam related to another project called ZKasino.
The news was shared on Thursday by crypto investigator ZachXBT. He said Ilham was arrested for his connection to a major fraud case involving ZKasino. It’s believed that WhiteRock helped raise the $30 million for ZKasino.
ZKasino launched in April 2024, promising users free tokens (airdrops). But over a year later, many investors still haven’t received their money back.
Earlier, in April 2024, Dutch police also arrested a 26-year-old man, reportedly named Elham Nourzai, for fraud and money laundering related to the same ZKasino case.
According to ZachXBT, Ilham’s arrest is linked to the same investigation, and he may be sent (extradited) to the Netherlands soon. Another person possibly involved, Lior Ben Zakan, was not mentioned in the arrest details.
Token Price Drops After Arrest
After Ilham’s arrest was reported, the value of WhiteRock’s token (called WHITE) dropped by over 40%, falling from $0.0006582 to $0.0003909 on Thursday.
This is one of several recent crypto scams. On Wednesday, U.S. officials said they had recovered $40,000 out of $250,000 that was stolen from someone who donated to a fake political event.
