ZKasino announces the return of ETH! Users need to give up the ownership of token ZKAS

ZKasino promised in April that users would be given ZKAS tokens after cross-chain (pledge) ETH, but after the event, all descriptions of returning ETH were deleted on the platform and the users' ETH was pledged. All are converted to ZKAS ($0.055) at a discount, and the position is forced to be locked for more than 15 months. However, ZKasino announced on the evening of the 28th that users will have three days to withdraw ETH.

ZKasino returns ETH for a limited time

According to ZKasino’s announcement, the official is launching a two-step cross-chain process. For users who do not want to participate in the “pledge ETH to ZKAS conversion”, they can deposit the first batch of ZKAS cross-chain Register with rewards and get a 1:1 return of the originally pledged ETH.

However, registration will be equivalent to the 14-month ZKAS vesting period reward after the user gives up. Users can register from 22:00 on May 28 to 22:00 on May 31, Beijing time.

Open the ETH application portal on 5/31

The current registration process will last for 72 hours. After 3 days, the registration function and ZKAS deposit function will be closed. After that, ZKasino will collect the user’s registration data and provide it. After verification, the ETH claim website will be opened.

For cross-chain users who cannot use the original registration address, they can contact the team via email: signup@zkasino.io.

New Token Economics

ZKasino also claimed that it will release a new token economic model, including allocating ZKAS to cross-chainers who choose to return ETH, so as to put ZKAS in the hands of more people , ensuring that ZKAS tokens are sufficiently decentralized.

Not sure why ZKasino suddenly decided to return ETH to users. The Dutch authorities arrested a man related to ZKasino on May 3, seized various assets worth 11.4 million euros and insisted that ZKasino was a A scam.

But the specific factors that prompted ZKasino’s hasty change are still unknown.

ZKasino’s exaggerated behavior has aroused criticism from a large number of crypto communities. Last year, chain detective ZachXBT listed multiple “records” of ZKasino founder Derivatives Monke.

This also once attracted the attention of Vitalik Buterin, the founder of Ethereum. He believes that the word "ZK" has become a market term and seems to be mainstream enough to become a keyword used by fraudulent projects.

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