Blockchain Whiz Kid's $10M Fortune Vanishes Overnight

ZKasino Scammer Loses $27M in Liquidation

A notorious scammer behind the now-defunct online casino ZKasino has suffered a major blow after losing $27 million in a liquidation process.

The scammer, who has been identified only as "Alex," had operated ZKasino under the guise of a legitimate online gaming platform. However, the site was actually a Ponzi scheme, where early investors were paid with money from later investors, rather than actual profits from the casino.

The scheme was eventually uncovered, and authorities moved to liquidate ZKasino's assets to compensate victims. In a surprise twist, Alex has now lost the majority of the funds he had accumulated through the scam, with reports suggesting that he has been left with just $1.5 million.

The liquidation process was carried out by a court-appointed receiver, who sold off ZKasino's assets and distributed the proceeds to victims. The majority of the funds were recovered, with around $25 million distributed to those who had invested in the scam.

The loss is a significant blow to Alex, who had built a reputation as a cunning and elusive scammer. His downfall is seen as a major victory for law enforcement and a warning to others who may be considering similar schemes.

The liquidation process is expected to continue in the coming weeks, with the remaining funds being distributed to victims. The case serves as a reminder of the importance of due diligence and caution when investing in online opportunities.