ZachXBT: WhiteRock Finance may be related to members of the Zkasino scam case

ChainCatcher news, ZachXBT posted a warning stating that at least one member of the Zkasino $30 million exit scam team seems to be related to the WhiteRock Finance project, as on-chain transactions link the two projects and a personal email address together. Zkasino raised over $30 million from the community through a presale, but the project did not develop according to the roadmap, and the funds appear to have been misappropriated, leading to the arrest of Elham Nourzai by the Dutch FIOD at the end of April 2024, with asset seizures. Co-defendants Ildar Ilham and Lior Ben Zakan were reported to be residing in the Middle East at that time.

At the end of 2024, Elham was released, and Zkasino's funds began to be slowly laundered through inter-chain jumps, involving networks such as ZkSync, Starknet, EVM, and Solana. The funds were divided into two paths: 1) cashing out through OTC brokers; 2) converting cryptocurrencies to XMR through instant exchanges; 3) conducting contract trading on Hyperliquid.

WhiteRock (WHITE) emerged at the end of last year and was immediately found to have multiple significant issues, including: an anonymous team with no history, allegations of fake partnerships, the team owning multiple sub-wallets funded through instant exchanges, inflated user numbers, and a lack of transparency regarding USDX support.