Allegations of fraud and financial mismanagement have surfaced against the ZKasino team, involving the misappropriation of $15 million from the ZigZag DEX project's treasury. ZigZag Exchange, operating on the zkSync platform, has publicly accused the ZKasino team of owing money to multiple individuals and defrauding them. Further claims detail that the funds were lost through risky financial maneuvers, including market making with UST and leverage trading on FTX, as advised against by ZigZag. The controversy has led to a public dispute, with accusations of envy and unprofessional conduct also emerging.
.@ZigZagExchange (DEX on @zksync) accuses the @ZKasino_io team of stealing $15 million from the ZigZag treasury. https://t.co/nrEeaxU0Mq https://t.co/mW1Dhaj9nK
This is fun time to mention the 2nd part of the fraud. When @Derivatives_Ape and his friends took the raised money for ZigZag, they lost half of it market making UST (against my recommendation) and lost the other half leverage trading on FTX trying to make the money back.… https://t.co/n1r5Lqo2db
You are an envious loser. Imagine trying to blame the failure of ZigZag on us after seeing our success with Syncus and ZKasino. Last week you asked us for a team allocation in ZKasino (even though you did no work) then you blow up on Twitter when we refuse to give it to you.… https://t.co/M75WHAM8e6
The zkSync DEX project ZigZag issued an article accusing the ZKasino team of fraud, accusing its initial funds of being stolen from the ZigZag Treasury, the founder of ZKasino is a fundraiser and 3/5 signer of ZigZag. ZigZag raised $15 million and entered the ZKasino founder…
I'm gonna lay this out since it gets worse and worse everyday. Multiple people have approached me in the past week with allegations that the @ZKasino_io team owes them money or defrauded them in some way. Multiple former employees and contractors have contacted me to let me…
Took this tweet down since too many people were asking me who this was referring to I wanted to call out this behavior since it’s not the first time I’ve seen it (I’ve been rugged by it myself!) Heard from multiple people separately about a company doing this recently, so… https://t.co/EapREUEv3D