WhiteRock founder arrested in UAE, allegedly involved in $30 million scam through ZKasino

On July 4th, on-chain detective ZachXBT took to social media to disclose that the UAE authorities have apprehended Ildar Ilham, the founder of the decentralized finance protocol WhiteRock Finance. He is accused of carrying out a $30 million fraud through the gambling platform ZKasino. The case details show that when the ZKasino platform was launched in April 2024, it had promised to airdrop native tokens to certain users. However, more than a year has passed without fulfilling this promise. In April of this year, Dutch authorities arrested a 26-year-old suspect (reportedly a crypto influencer named Elham Nourzai) on charges including fraud, embezzlement, and money laundering. ZachXBT pointed out that Ilham's arrest is related to the investigation of Nourzai and ZKasino, and the extradition procedures to the Netherlands are currently in progress. Another suspected individual, Lior Ben Zakan, has not been mentioned yet. Influenced by this news, the price of the WhiteRock native token WHITE dropped by more than 40% on Thursday, falling from $0.0006582 to $0.0003909.