Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
UAE Arrests WhiteRock Founder in $30 Million ZKasino Rug Pull

UAE Arrests WhiteRock Founder in $30 Million ZKasino Rug Pull

2025/07/03 09:48
By:

Local authorities arrested WhiteRock founder Ildar Ilham in the UAE today for alleged involvement in the ZKasino rug pull. It plans to extradite him to the Netherlands, where other ZKasino leaders are on trial.

WHITE has fallen more than 30% in accordance with news of the arrest. The community is calling on exchanges like MEXC and Gate.io to delist the token.

ZKasino Fall Out Continues After a Year

ZKasino, a famous rug pull scam, led to millions of losses for its users and a string of subsequent investigations. Last month, crypto sleuth ZachXBT made serious allegations about WhiteRock (WHITE), claiming blockchain data linked it to ZKasino.

Today, it looks like these claims had weight, as local authorities arrested WhiteRock founder Ildar Ilham in the UAE:

“The authorities of the UAE have informed the Netherlands that they have arrested a suspect in the context of an ongoing criminal investigation. The man was wanted internationally for involvement in large-scale fraud surrounding the alleged gambling platform ZKasino,” the local authorities’ press release claimed.

The UAE will also extradite Ilham to the Netherlands to face fraud charges. The country is already prosecuting key ZKasino members, so it makes sense to move WhiteRock’s founder to this jurisdiction.

As of yet, authorities haven’t unveiled any new criminal evidence, but the suspicious on-chain connections between these companies were evidently revealing.

Now that explicit ties between WhiteRock and ZKasino are coming to light, the community is redoubling its efforts to delist WHITE.

Several prominent exchanges, such as MEXC and Gate.io, drew a lot of flak for listing it in the first place. None of these exchanges have made any announcements yet, but WHITE still dropped over 30%:

UAE Arrests WhiteRock Founder in $30 Million ZKasino Rug Pull image 0WhiteRock (WHITE) Price Performance. Source: CoinGecko

Ultimately, the opaque nature of this whole situation between ZKasino and WhiteRock has led to confusion and speculation. It’s unclear what exactly prompted the UAE to arrest Ilham, like if there’s new off-chain evidence directly connecting him to the rug pull.

Hopefully, upcoming criminal proceedings in the Netherlands will help fully elucidate these connections.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?

This Thanksgiving, we are grateful for bitcoin returning to $90,000.

BlockBeats2025/11/28 08:43
After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?

Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?

The current paradox of the Bitcoin network is particularly striking: while the protocol layer has never been more secure due to high hash power, the underlying mining industry is facing pressure from capital liquidation and consolidation.

区块链骑士2025/11/28 08:23
Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?

What are the privacy messaging apps Session and SimpleX donated by Vitalik?

Why did Vitalik take action? From content encryption to metadata privacy.

ForesightNews 速递2025/11/28 08:23
What are the privacy messaging apps Session and SimpleX donated by Vitalik?

The covert war escalates: Hyperliquid faces a "kamikaze" attack, but the real battle may have just begun

The attacker incurred a loss of 3 million in a "suicidal" attack, but may have achieved breakeven through external hedging. This appears more like a low-cost "stress test" targeting the protocol's defensive capabilities.

ForesightNews 速递2025/11/28 08:23
The covert war escalates: Hyperliquid faces a "kamikaze" attack, but the real battle may have just begun