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 Crypto gambling project ZKasino has announced a ‘two-step bridge back process’ for users to finally withdraw their share of what was branded, at the time, as a $33 million rug pull.
 However, users have only been given a 72-hour window (that’s until 2pm UTC on May 31) in which to ‘sign up’ to withdraw their funds, which are now worth over $40 million in total.
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 Bridge back ETH at 1:1 ratio We now initiate the 2-step bridge back process for bridgers who choose to receive back their ETH. We apologise for the delay and thank you for your patience. Please read the details about the bridge back process on our Medium post:…— Derivatives Monke (@Derivatives_Ape) May 28, 2024
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 Read more: <a rel="noopener noreferrer nofollow" title="ZKasino" href="https://thebittimes.com/tag/zkasino.html">ZKasino</a> $30M ‘favor’ to <a rel="noopener noreferrer nofollow" title="users" href="https://thebittimes.com/tag/users.html">users</a> — seamless transition or rug pull?
 The original incident was sparked by an April 20 announcement that ETH deposits made as part of a bridge-to-earn rewards program would be converted into the project’s own ZKAS token, as a “favor” to users.
 Despite previous assurances that the deposits would be available to withdraw 1:1, the 10,515 <a rel="noopener noreferrer nofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a> had instead been transferred into a multisig address controlled by the team. Nine days later, the <a rel="noopener noreferrer nofollow" title="funds" href="https://thebittimes.com/tag/funds.html">funds</a> were sent to three wallets in the form of Lido’s wrapped staked Ether token (wst<a rel="noopener noreferrer nofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a>).
 The decision to enable users to withdraw their funds comes almost a month after Dutch authorities announced the arrest of “a 26-year-old man who is suspected of fraud, embezzlement, and money laundering” in connection with ZKasino, as well as seizing over €11.4 million ($12.4 million) worth of “various assets.”
 The involvement of law enforcement seemingly had an effect on the team, as the <a rel="noopener noreferrer nofollow" title="funds" href="https://thebittimes.com/tag/funds.html">funds</a> were returned to the project’s multisig on May 9.
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 BREAKING! All the bridged ETH are now back in the original multi-sig wallet. Something is happening, could they be planning to refund Zkasino victims? pic.twitter.com/Miqcv2Bax9— $JAIL (@jail_monke) May 9, 2024
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 The same day, ZKasino’s pseudonymous Derivatives Monke took to X (formerly Twitter) to “strongly reject” the claims of a rug pull as “completely false and damaging to the ZKasino brand.”
 The post points out that the “ETH is safe and secured by ZKasino in the ZKasino Multisig,” but makes no mention of why it had been removed in the meantime.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/zkasino-gives-users-until-friday-to-claim-back-rugged-funds-tbt90280.html">https://thebittimes.com/zkasino-gives-users-until-friday-to-claim-back-rugged-funds-tbt90280.html</a>

ZKasino gives users until Friday to claim back ‘rugged’ funds

TheBitTimes

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