WhiteRock Founder Arrested Over $30 Million ZKasino Exit Scam

Ildar Ilham, the founder of WhiteRock, has been arrested by UAE law enforcement authorities for his alleged involvement in the ZKasino exit scam, which resulted in the loss of approximately $30 million. The arrest was first reported by the crypto sleuth ZachXBT on social media. According to the information shared, Ilham will be extradited to the Netherlands to face criminal charges related to the scam.

The ZKasino project, which Ilham was involved in, was promoted as a decentralized gambling platform. It successfully raised over $30 million in presale funds last year. However, the project failed to deliver on its promises, and the team allegedly diverted investor funds for personal gain. This is not the first arrest related to the ZKasino scam. Elham Nourzai, another key figure linked to the plot, was arrested by Dutch authorities in April of last year. Nourzai was later released, and shortly after, the stolen funds began to be laundered on-chain through various networks.

Many victims of the scam expressed relief and satisfaction at Ilham's arrest, as it marks a significant step towards justice. ZachXBT played a crucial role in uncovering the connection between Ilham and the ZKasino scam. By tracing on-chain transactions, ZachXBT was able to link at least one team member from the ZKasino exit scam to the WhiteRock project through a personal email address.

The investigation revealed several red flags associated with the WhiteRock project. These included an anonymous team with no history, fake partnerships, and numerous side wallets funded via instant exchanges. ZachXBT's findings also indicated that there was a commingling of funds between the WhiteRock marketing wallet and the stolen ZKasino bounty. Additionally, transactions between late February and early March 2025 showed that ZKasino funds were transferred to an instant exchange, with WhiteRock wallets receiving similar quantities from other instant exchanges via XMR.

Despite these concerning findings, WhiteRock has not yet pulled a rug, but ZachXBT believes that Ilham's connection to the project, along with its history, suggests a high likelihood of a future rug pull. In response, ZachXBT has called on exchanges MEXC and Gate.io to consider delisting WHITE and conduct enhanced due diligence on the team to protect investors from potential harm.