ZKasino users fuming as $33M in promised refunds are instead sent to Lido
On-chain data shows ZKasino moved $33 million worth of users’ bridged ETH to Lido, while users claim it rescinded a plan to return their crypto.
Blockchain-based gambling project ZKasino is being slammed on X for moving $33 million worth of investor and user funds to staking protocol Lido — a sudden change from its original plan to return the funds.
In an April 20 blog post, ZKasino announced its network had gone live. More than 10,000 users who had bridged a collective 10,515 Ether (ETH) to the network in a bid to collect more of its ZKasino (ZKAS) token were expecting they could get their ETH back as originally promised.
Instead, ZKasino’s post said it “made changes from our initial plan” and all bridged ETH was converted to ZKAS at a “discounted rate of $0.055” on a 15-month vesting schedule.
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