Trust Game in the Mist of Encryption: ZKasino Aftermath and WhiteRock_Fi New Mystery

ZKasino Lianchuang, who took away $33 million, is back with a new project?

In the world of cryptocurrency, trust is a scarce resource, and scandals often spread faster than innovation. On March 16, the well-known crypto KOL He Bi broke the news on the X platform that Prometheus, the co-founder of the ZKasino project, who had previously taken away more than 10,000 ETH and was valued at $350 million, was suspected of returning to the arena with a new identity and launching a new project. He Bi called on industry professionals to remain vigilant to prevent more investors from falling into potential traps.

This news quickly sparked heated discussions, after all, the shadow of ZKasino's "running away" has not yet dissipated. So, who exactly is Prometheus? What kind of story is hidden behind WhiteRock_Fi?

Review of the ZKasino runaway incident

ZKasino was once a dazzling new star in the zkSync ecosystem in 2024. It was originally positioned as a decentralized guessing entertainment platform, and then transformed into a "super chain" infrastructure, attracting a large number of investors with the "Bridge-to-Earn" event. However, the plot suddenly reversed in April: the project suddenly modified the official website rules and announced that the 10,515 ETH (worth about $33 million at the time) deposited by users would be forcibly exchanged for ZKAS tokens and locked for 15 months. This move was denounced by the community as a "soft rug pull" (exit scam). Subsequently, the funds were quickly transferred to the Lido staking platform, and the official communication channels were closed, and investors fell into panic.

After the incident fermented, the Dutch authorities arrested a 26-year-old man on May 3, suspected to be another co-founder of ZKasino, Elham N. (alias Derivatives Monke), and seized assets worth $12.2 million. However, Prometheus seems to have successfully "hidden" and has not been held accountable so far.

It is worth noting that ZKasino was favored by institutions such as MEXC and Big Brain Holdings, and its valuation once soared to $350 million. After the incident, the project argued that "funds were safe" and launched the so-called "refund application", but this did not calm the public anger. Investors lost all their money, and the community's trust in similar projects has fallen to the bottom. According to statistics from SlowMist Security, ZKasino ranks first among the top ten runaway incidents in 2024 with a case amount of $33 million, becoming an unhealable scar in the industry.

Founder: From a technical star to a controversial vortex

Although Prometheus's true identity remains a mystery, he is by no means unknown in the crypto circle. He once participated in Zigzag Exchange, a well-known DEX project in the zkSync ecosystem, which raised $15 million and earned him a good reputation. However, the ZKasino incident completely subverted his image.

Norwegian media "Aftenbladet" once reported that a young man from Rogaland (alias Prometheus) was accused of embezzling 350 million Norwegian kroner (about $35 million), and the community even offered a reward for tracking down his personal information. From a technical star to a wanted controversial figure, Prometheus's fall is regrettable.

WhiteRock: The temptation and suspicion of a mysterious new project

Recently, a new project called WhiteRock_Fi has quietly launched.

There is currently very limited public information about WhiteRock_Fi. According to its official website (whiterock.fi), WhiteRock_Fi aims to tokenize traditional financial assets (such as stocks, bonds and real estate) through blockchain technology, promising to "unlock global liquidity and democratize financial participation." The project slogan is quite attractive: "Buy stocks, bonds and real estate with cryptocurrency, and assets are guaranteed by smart contracts." As a project in the RWA (real world asset) track, WhiteRock_Fi seems to have caught the industry trend. However, its lack of a white paper and clear team information makes people doubt its real landing ability-after all, the RWA track connects traditional assets and relies heavily on team resources.

At present, WhiteRock_Fi's token WHITE has been listed for trading on platforms such as Uniswap V2. Although the trading volume is limited, the community discussion is heating up, and its X account has attracted about 32,000 followers.

At this moment, He Bi's revelations cast a shadow on the project. He pointed out that Prometheus is suspected of operating WhiteRock_Fi in a new capacity, and its operating model is strikingly similar to ZKasino: high-profile marketing methods, KOL endorsement to attract funds, and hidden risks in the code backdoor.

He Bi's revelations have triggered widespread discussion, and there is a message under his post saying:

We have just finished studying this project. The product is interesting, but the team composition, institutions, and celebrity endorsements are unclear, which is a hidden danger.

I have been looking for the background of this project. It is very suspicious. The token pool has no depth and the claimed cooperation cannot be confirmed. The total amount of tokens is 65 billion, and 1 billion was paid to Trump. So it is temporarily considered a scam.

At present, there is no conclusive evidence that WhiteRock_Fi has begun to raise funds to repeat ZKasino's "bridge scam", so at this stage it can only be regarded as a potential risk point worthy of attention. At the same time, WhiteRock_Fi's Telegram community has not yet made an official response to the allegations, and continues to remain mysterious and low-key.

ZKasino's capital risk: user assets become a bet

The ZKasino incident is far from over with the "refund promise". On-chain data analyst Yu Jin found that ZKasino's multi-signature wallet (suspected to be controlled by the team) has repeatedly used user funds for high-risk operations, such as using funds as collateral to borrow other assets and participate in market speculation. The community speculates that this may be a manifestation of the team's attempt to make up for the funding gap or seek additional profits through risky investments. However, this wanton domination of user assets not only exposes the team's credibility crisis, but also makes investors' last bit of trust in the safety of funds disappear. He Bi's warning may be based on this background, reminding the industry to be vigilant about Prometheus's new moves.

Industry reflection: How to rebuild trust?

From ZKasino to WhiteRock_Fi, the story of Prometheus is like a mirror, reflecting the deep dilemma of the crypto industry: the lack of supervision and transparency allows project parties to take advantage, and investors often wake up after losses occur. He Bi's revelations are not only a question to WhiteRock_Fi, but also a wake-up call to the entire ecosystem - before participating in a new project, in-depth investigation of the team background and capital flow has become a survival rule.

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