TechFlow reports on December 3 that, according to on-chain analyst烬 (Yujin), the ZKasino team has closed its leveraged long position on ETH, realizing a profit of 651.5 ETH (worth $2.37 million). Previously, the ZKasino team misappropriated 10,535 ETH belonging to users to borrow 53.91 million DAI on-chain and purchase 15,645 ETH for leveraged long exposure.
Six hours ago, they chose to exit this leveraged long position by selling 15,005 ETH acquired through leverage and repaying the loan, securing a profit of 651.5 ETH. Subsequently, they distributed 11,186.5 ETH—comprising the users' original funds plus earnings (valued at $40.75 million)—across nine different addresses. Yujin noted that the ZKasino team may have no intention of returning the funds.
