Scammer hit with a dose of karma after $27 million liquidation
A cryptocurrency scammer behind the fraudulent blockchain-based gambling project ZkCasino has recorded massive losses of over $27 million through liquidation. The individual, who had previously swindled millions from unsuspecting investors, opened a highly leveraged 20x long position on Ethereum (ETH) via Hyperliquid, a decentralized perpetual futures exchange. However, the market turned against the position, leading to a full liquidation with losses totaling $27.1 million, according to the latest on-chain data retrieved by Finbold from Onchain Lens on April 7. Ethereum liquidation chart. Source: Hyper Dash ZkCasino scam Before this downfall, the scammer reportedly stole over $40 million through the ZkCasino scheme, a fake gambling platform and blockchain casino that lured investors with false promises of quick returns. ZkCasino marketed itself as a legitimate operation, claiming investors could recover their funds within 30 days. It’s worth...