On May 28, the Web3 gaming platform Zkasino announced the start of a two-step bridge-back process, allowing around 10,000 users to reclaim their deposited Ethereum (ETH) at a 1:1 ratio, totaling approximately $33 million.

This announcement followed accusations nearly a month prior that Zkasino had changed its token redemption policies, preventing users from recovering their bridged ETH and leading to allegations of a "rug pull."

Earlier in the month, Dutch authorities arrested the CEO of Zkasino on charges of fraud, embezzlement, and money laundering, seizing assets, including cryptocurrencies worth $12.2 million.

The Zkasino team clarified that the reimbursement process for users opting out of the ZKAS token conversion was already underway. They warned that users who chose to bridge back their ETH would forfeit future ZKAS rewards.

"Users can sign up by depositing their first received batch of ZKAS bridge rewards, forfeiting the remaining 14 months of ZKAS release. The signup period lasts from May 28 at 14:00 UTC to May 31 at 14:00 UTC," the Zkasino team stated.

They added that users could access their ZKAS rewards on the Zkasino EVM Chain, which must be deposited into a smart contract controlled by Zkasino. After three days, the signup process will close, and deposits will be halted.