Blockchain-based gambling project, ZKasino, is being sharply criticized by X for moving $33 million worth of investor and user funds to the Lido staking protocol - an abrupt change from its original plan to return the funds.
In an April 20 blog post, ZKasino announced that its network had been launched. More than 10,000 users, who combined a total of 10,515 ETH into the network to collect more ZKasino token (ZKAS), expected to get their ETH back as originally promised.
Instead, ZKasino's post said that "changes have been made to our original plan" and all bridged ETH has been converted to ZKAS at a "reduced rate of $0.055" under a 15-month vesting schedule.
He claimed that the changes were "done as a favor" to "ensure a smooth transition," since his network does not use ETH. Users also noted that it had changed the wording on its website , removing a statement saying that ETH "will be returned."
These concerns were further exacerbated after a chain transfer showed that ZKasino had transferred 10,515 ETH of all its users to the Lido staking protocol.
