ZKasino

ZKasino is a $33M cryptocurrency scam that exploited ZK hype to raise funds through multiple presale rounds and VC investments, then disappeared with user ETH deposits. The project promised a decentralized gambling protocol with fair on-chain gaming and token airdrops, but instead locked funds, converted them to worthless ZKAS tokens on a 15-month vest, and staked the ETH via Lido without user consent. Founders were arrested in the Netherlands; the team abandoned the project before launch, created fake refund websites, and left thousands of investors with total losses.