Catenaa, Saturday, June 21, 2025- Blockchain investigator ZachXBT has exposed WhiteRock Finance as a potential laundering front for funds siphoned from the $33 million ZKasino exit scam, triggering widespread calls for delistings and criminal probes.
In an explosive on-chain investigation published Monday, ZachXBT revealed that WhiteRock’s marketing wallets were directly funded with assets stolen from ZKasino’s April 2024 presale scam.
He traced wallet flows, exchange activity, and even a personal email tied to both schemes, linking the projects through their association with alleged fugitive Ildar Ilham, who operated under the alias “Prometheus.”
The report shows how stolen Ethereum from ZKasino’s treasury was laundered across Starknet, zkSync, Solana and Ethereum Virtual Machine chains, converted to Monero via instant exchanges, and moved through OTC brokers and perpetuals platforms like Hyperliquid.
WhiteRock, which launched in December 2024, marketed itself as a real-world asset tokenization platform. It gained traction by promoting fabricated partnerships with BlackRock, StoneX, and First Citizens Bank. ZachXBT said the firm paid influencers with tainted funds and exaggerated user metrics.
StoneX has publicly denied any ties to WhiteRock. The platform’s most sensational claim — a Saudi Aramco collaboration via Ripple, sent its WHITE token soaring 110% in May, but no verifiable deal ever existed.
ZKasino imploded last year after team members diverted 10,515 ETH from presale participants and forcibly converted it into vesting tokens. Dutch authorities arrested one team member, while others fled abroad.
The scandal is the latest in a wave of crypto laundering cases prompting regulatory scrutiny across Europe and Asia.
