TechFlow News — Kedar, founder of ZigZag, a DEX project in the Ethereum Layer 2 ecosystem, used the official account to post on social media stating that most of the revenue claimed by the decentralized betting platform ZKasino is fabricated, and urged users to exercise caution when participating in their ICO.
Kedar said that incompetence and fraudulent behavior by certain team members have made it extremely difficult to run the company, which is a major reason why ZigZag has made little progress since its early launch. However, he will do his best to revive the project and continue operating it without these individuals, though specific outcomes cannot be guaranteed.
The founder of ZKasino (Derivatives Monke) is also a member of the ZigZag team and bears responsibility for the funds lost by investors. Currently, Kedar has no evidence indicating any theft involved in the losses—only that Monke was incompetent, although substantial financial losses did occur. Kedar emphasized that ZKasino's founder, Derivatives Monke, has a history of fabricating Telegram and social media chat logs, and may once again resort to falsifying information to refute these claims. He welcomes investors and other project founders to contact him directly by phone for verification.
