BlockBeats News, July 4th, on-chain detective ZachXBT posted on social media revealing that the UAE authorities have detained Ildar Ilham, the founder of the decentralized finance protocol WhiteRock Finance, accusing him of conducting a $30 million fraud through the gambling platform ZKasino.
The case details indicate that when the ZKasino platform launched in April 2024, it had promised to airdrop native tokens to specific users, but over a year had 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 extradition procedures to the Netherlands are currently underway. Another suspected individual, Lior Ben Zakan, has not been mentioned yet.
Impacted by this news, the price of the WhiteRock native token WHITE plummeted over 40% on Thursday, dropping from $0.0006582 to $0.0003909.
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