UAE law enforcement has arrested Ildar Ilham, founder of the crypto project WhiteRock, for his alleged involvement in the $30 million ZKasino exit scam, a high-profile fraud that has shaken the crypto community.
The arrest was first reported on social media by crypto sleuth ZachXBT, who played a key role in uncovering Ilham’s link to the scam through detailed on-chain transaction analysis. Ilham is expected to be extradited to the Netherlands to face criminal charges related to the case.
ZKasino, promoted as a decentralized gambling platform, raised over $30 million in presale funds last year but failed to deliver on its promises. Instead, the project team allegedly diverted investor money for personal gain. This is not the first arrest related to the scandal—Elham Nourzai, another key figure, was arrested in the Netherlands last April but later released. Subsequently, stolen funds were laundered via blockchain networks.
ZachXBT’s investigation highlighted several red flags about the WhiteRock project, including an anonymous team, fake partnerships, and multiple side wallets funded through instant exchanges. On-chain data showed commingling of funds between WhiteRock’s marketing wallet and stolen ZKasino bounty, and suspicious transfers involving instant exchanges using privacy coins like XMR.
Although WhiteRock has not yet executed a rug pull, experts warn of a high risk given Ilham’s connection and the project’s opaque history. ZachXBT urged cryptocurrency exchanges MEXC and Gate.io to delist WHITE tokens and conduct enhanced due diligence to protect investors.
The arrest marks a significant step toward accountability in one of crypto’s largest exit scams, offering hope to defrauded investors.
