ZKasino, a blockchain gaming platform, is addressing accusations of a $33 million scam by implementing a 72-hour "2-step bridge back process" to reimburse investors. This decision comes after facing criticism last month for failing to return Ethereum (ETH) to investors as promised upon the network's launch, instead transferring around $33 million to Lido for staking.

In the upcoming days, investors can participate in a two-step process to reclaim their initial ETH investments. While ZKasino's team reaffirms its dedication to the project's success, investors opting for the ETH refund will forfeit any ZKAS tokens they possess, along with the anticipated 14-month release of ZKAS.

However, concerns arise regarding the brief 72-hour window for the refund process and the legitimacy of the sign-up page, sparking fears of another potential scam. Additionally, the announcement of the refund process was made not by ZKasino's official account but by a figure associated with the company's development, "Derivatives Monke," who has been at the center of the controversy.

ZKasino had previously faced criticism for altering its original plan, opting to convert bridged ETH into ZKAS at a discounted rate of $0.055, with a 15-month vesting schedule, instead of returning them. This move prompted accusations of a "rug pull" or exit scam, leading to the arrest of a suspect by Dutch authorities on April 29. Subsequently, two-thirds of the misappropriated funds have been returned to ZKasino's multisig wallet, and Derivative Monke has publicly denied the allegations of a scam.