ZachXBT, one of the leading chain analysts in the cryptocurrency world, made serious warnings about the WhiteRock (WHITE) altcoin.
ZachXBT claimed that the project was run by a fake team, exaggerated its user numbers, and may be linked to stolen funds from a scam called Zkasino.
According to ZachXBT’s statements, the Zkasino project set out with great promises by raising more than $30 million from the community in 2024, but the roadmap was not adhered to and the funds were embezzled. Following these events, Elham Nourzai was arrested by FIOD in the Netherlands in April 2024 and some of his assets were seized. Nourzai was later released and the stolen funds began to be laundered through “chainhopping” between networks such as ZkSync, Starknet, EVM and Solana.
The WhiteRock project first emerged towards the end of 2024. ZachXBT stated that the project had the following worrying elements:
- Anonymous team with no identity or history
- False partnership claims
- Numerous wallets funded by live exchanges
- Unrealistic exaggeration of the number of users
- Lack of transparency of USDX collateral structure
ZachXBT also stated that it had identified an influencer who received payments from WhiteRock’s marketing wallet, and that the chain analysis showed that this wallet and the funds stolen from Zkasino were linked to the same addresses. In particular, it was observed that between the end of February and the beginning of March 2025, Zkasino funds were sent to an instant exchange and similar amounts reached WhiteRock wallets from a different exchange.
Moreover, a personal email address belonging to an account that interacts with the project’s distributor address was found. It was claimed that this email address was linked to an account with the username “IldarTheGrandMaster” on the chess platform ChessCom, and that this person could be Ildar Ilham. Ilham is one of the other names mentioned in the Zkasino scandal.
ZachXBT has called on cryptocurrency exchanges MEXC and Gate.io, where the WHITE token is listed, to delist the project and conduct a deeper investigation into the team’s background. He also argued that Elham Nourzai, Ildar Ilham, and Lior Ben Zakan, who were involved in the Zkasino project, should be brought to justice as soon as possible.
*This is not investment advice.
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