Have you ever thought about entrusting your funds to a decentralized platform, only to potentially encounter the risk of it 'running away'? Even more bizarre, this platform uses your money for leverage and makes a fortune, while you anxiously wait for a refund? This is not a movie plot, but a true story happening on the ZKasino platform.
Imagine that you trustingly stake ETH on ZKasino, expecting a refund after the event ends. However, after the event concludes, the platform delays the opening of refunds, even altering the website's event description and shutting down Telegram speaking permissions, leading to a series of operations that raise doubts. Worse yet, the platform unilaterally transfers your funds to Lido for staking, even misappropriating funds intended for your refund to leverage long ETH on-chain and earn profits!
This is not a joke. According to on-chain data analysis, the ZKasino project has already used users' ETH as collateral to borrow a total of 53.77 million DAI to purchase 15,645 ETH for leverage. With the surge of ETH, they have already made a floating profit of 3.22 million USD. And you? Still anxiously waiting for a refund, not even knowing if your funds have been misappropriated.
In the face of such a situation, do you feel anger, helplessness, and disappointment? Yes, we all do. But what shocks us even more is that the ZKasino project openly chooses to 'profit from user assets', completely deviating from the original intention of decentralization and transparency.
So, the question arises: Why would ZKasino do this? Are they truly unable to repay? Or is it intentional? In fact, based on on-chain data, ZKasino is not 'unable to repay' but is openly choosing to 'profit from user assets'. Every step taken is extracting user trust and assets, causing secondary harm to the victims.
In this incident, many KOLs and investment institutions are also involved. Should they be responsible for recommending such projects? Should they compensate for users' losses? This is a thought-provoking question. However, we must recognize one fact: in the jungle society of Crypto, we must take responsibility for our investment outcomes.
Now, ZKasino's latest tweet has only announced the next steps for the project, while avoiding the issue of refunds. This begs the question: When will refunds be issued? Where exactly is our money?
As investors, we need to pay attention not only to the potential and prospects of a project but also to the risks of the project and the integrity of the team. In this unpredictable market, we must remain vigilant and rational, continuously learning and improving our investment capabilities. Only then can we establish ourselves in this market and win the future.
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The above content is for informational sharing only and does not constitute any investment advice! Investment involves risks; please proceed with caution!
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