Bittime - Dutch authorities have arrested a suspect in the ZKasino platform fraud case. This alleged 26-year-old suspect was arrested on suspicion of fraud, misappropriation of funds and money laundering, as reported by the Financial Intelligence Investigation Service Dutch (FIOD) through its official website on April 29, 2024.
Victim losses reached IDR 435 billion
ZKasino is suspected of having committed crypto investment fraud against its victims around the world, with total losses reaching more than $30 million (around IDR 481 billion). The FIOD investigation team conducted a search at a house and succeeded in confiscating the suspect's assets worth more than 11.4 million euros (around Rp. 196 billion). The assets confiscated included property, luxury cars and various types of crypto assets.
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Investigation Still Continuing
The suspect was detained for 14 days for further investigation. The investigation, which began on April 25 2024, is based on information received from Platform X (Twitter) as well as the FIOD intelligence unit. The investigation is still ongoing and does not rule out the possibility of the arrest of other suspects.
Cooperation with Binance
In addition to arresting the suspect, FIOD also worked with a team from crypto exchange Binance to secure millions of euros in crypto assets. The investigation team is currently trying to contact the victims to ask for their cooperation in the process of returning funds worth millions of dollars.
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Efforts to Recover Victim Losses
Arresting suspects and confiscating assets is an important first step in handling ZKasino fraud cases. Even so, recovering the victims' losses is the main focus at this time.
FIOD, in collaboration with Binance, is working to secure the assets of the suspects and return them to the victims. This process may take time, but victims are expected to remain cooperative with the investigation team.
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Read Also:
ZKasino Moves Users' Crypto Assets Worth Hundreds of Billions of Rupiah
Investors Plan to Sue ZKasino for Alleged Misappropriation of $33 Million in Funds
ZCasino Rocked by Controversy: Refund Funds Embezzled, Technology Claims Fake?
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