ZKasino scammer loses $27M as Ethereum price drops

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Cointelegraph

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https://cointelegraph.com/news/zkasino-scammer-loses-27m-in-liquidation?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

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ZKasino exploiter lost $27M in ETH after liquidation on Hyperliquid

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On April 29, 2024, Dutch authorities arrested one of the people suspected to be responsible for the “rug pull.” A few days later, all bridged ETH was returned to the ZKasino multisig wallet as Derivative Monke publicly denied the rug pull allegations on X.

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The liquidation came after record-breaking sell-offs in traditional equity markets that led to a crypto market correction; ETH’s price fell to a nearly two-year low of $1,480, last seen in May 2023.

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