The weekend saw the inauguration of the cryptocurrency casino ZKasino, but investors were not impressed. They are accusing the company of mishandling $33 million in user deposits to the staking platform Lido. To maintain fairness, ZKasino is an on-chain gaming platform that makes use of EigenDA, zkSync, Chainlink, and Randomizer’s Verifiable Random Functions.It raised $26.2 million at a $350 million valuation in March.
Before the site went online, ZKasino made its token bridge available to investors, enabling them to deposit Ethereum (ETH) and earn ZKAS, the native token of the network.The website’s original language, which said that bridged ether would be “returned” when the bridging time ended, has since been changed.
In a blog post on April 20, ZKasino wrote that “all bridged ethereum has been converted to our native gas token, ZKAS, at a discounted rate of $0.055.” “This conversion was done as a favor to our users who have bridged to participate in the ecosystem,” it added.
More than 10,000 individuals contributed $33 million worth of ether, which ZKasino then transferred to the restaking platform Lido, according to blockchain data.Depositors are vocally demanding a return on social networking site X, and ZKasino has not yet responded to this outpouring of criticism.