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**Alleged Scam ZKasino Offers Users 72-Hour Window to Reclaim ETH**

**By Vishal Chawla**

**Published May 29, 2024, 3:08 AM EDT (Updated 3:21 AM EDT)**

**Summary**

ZKasino, a crypto gambling platform facing scam allegations, announced that users could reclaim their ETH at a 1:1 ratio after their funds were inaccessible for nearly two months. The reclaim process is available from May 28 to May 31, during which users must register. Over 10,000 investors had deposited over $33 million in crypto at launch, only to have their funds converted to ZKAS tokens at inflated prices without consent, leading to the scam accusations.

**Details**

ZKasino allowed users to bridge their ETH back at a 1:1 ratio, addressing funds that had been held since April. At that time, the platform unexpectedly changed its token redemption policy, trapping investors' funds. More than 10,000 investors had already bridged over $33 million into ZKasino, which was then converted to ZKAS tokens without their consent.

Users now have a 72-hour period, from May 28 at 14:00 UTC to May 31 at 14:00 UTC, to register for reclaiming their funds. They need to deposit their initial batch of ZKAS bridge rewards back to the platform, forfeiting future ZKAS token releases over the next 14 months. Registration is limited to the original ETH deposit addresses, verified via ZKasino’s website.

Users must deposit their full balance of ZKAS tokens from these addresses, with allowances for gas fee deductions. The platform's founder, Ildar Elham, also known as Derivatives Ape, has a history of failed crypto projects, adding to the concerns. Dutch investigators recently arrested a 26-year-old linked to ZKasino (believed to be Elham), seizing assets worth 11.4 million euros, including real estate and cryptocurrencies.

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