UAE Arrests WhiteRock Founder Over $30M ZKasino Crypto Scam
Authorities in the UAE have arrested Ildar Ilham, founder of WhiteRock Finance, in connection with the $30 million ZKasino fraud. The arrest follows a broader investigation into the crypto platform's alleged fraudulent activities. Crypto investigator ZachXBT revealed the detention on social media, linking Ilham to WhiteRock's suspected involvement in ZKasino's questionable fundraising.
ZKasino, launched in April 2024, promised early users an airdrop of its native token. Over a year later, investors claim they have yet to receive their funds or tokens. Dutch authorities previously arrested 26-year-old Elham Nourzai in April 2024 on fraud and money laundering charges, with Ilham's arrest believed to be part of the same case. Extradition to the Netherlands is reportedly underway.
The news triggered a sharp decline in WhiteRock's native token, WHITE, underscoring the market's sensitivity to regulatory actions. The case highlights ongoing challenges in crypto accountability as authorities intensify scrutiny of fraudulent schemes.