ZKasino launches ETH bridge return process, the community still has doubts about its sincerity

The decentralized betting platform ZKasino recently announced the launch of the ETH bridge return process for users who do not participate in the ZKAS token conversion. Previously, the platform attracted approximately $33.2 million in ETH through the bridge reward activity. According to the announcement, users can register for the return process by depositing the first batch of ZKAS bridge rewards, but this means giving up the release of the remaining 14 months of ZKAS tokens.

As a blockchain gaming infrastructure project, ZKasino completed a Series A funding round in March this year with a valuation of $350 million. However, the project soon fell into controversy. Some investors denied their participation in the investment, users discovered they could not withdraw funds, and even former employees accused the company of not paying their wages. Ethereum co-founder Vitalik Buterin also pointed out that ZKasino did not actually use zero-knowledge proof technology.

In early May, the Dutch Financial Information and Investigation Service arrested a 26-year-old man, accusing him of large-scale fraud through ZKasino. Authorities seized a large amount of cryptocurrency, real estate, and luxury cars. These events forced ZKasino to consider refunding the community.

However, the two-step bridge process proposed by ZKasino has raised questions again:

1. The registration period is only 72 hours and takes place entirely on weekdays, which may hinder many users from participating.

2. Users must register using the original ETH bridge deposit address and return ZKAS to the smart contract controlled by ZKasino.

3. ZKasino did not mention the staking rewards generated from user deposits, estimated to exceed $100,000.

4. The refund process lacks a clear timetable, including the data collection, announcement release, and claim opening times, which have not been determined.

Despite ZKasino's insistence on legal operations and commitment to refunds, legal issues and investor skepticism remain unresolved. As the 72-hour registration deadline approaches, the crypto community is closely watching whether ZKasino will fulfill its promises or if new complications will arise.