On July 3, 2025, authorities in the United Arab Emirates arrested Ildar Ilham — known online as “Prometheus” — suspected mastermind behind the now-infamous ZKasino rug pull, a $30 million crypto scam that duped thousands of investors.
Ilham operated under multiple identities and is believed to be just 21 years old, with ties to WhiteRock_Fi, a follow-up DeFi project already under scrutiny. His arrest was the result of cross-border cooperation between the UAE and Dutch authorities, indicating the growing global urgency in tackling crypto fraud.
How the Scam Worked
ZKasino initially posed as a high-tech, decentralized gambling protocol. Investors were promised yields and early access rewards. Instead, funds were siphoned off using a network of wallets across zkSync, Starknet, Solana, and privacy-centric Monero chains.
Earlier this year, Dutch police also arrested Nurzay Elham, another ZKasino associate, seizing over €11.4 million in assets. But Ilham’s capture is seen as the most critical development in the investigation so far.
The Bigger Picture
- Ilham's arrest underscores the evolution of laundering techniques: mixing protocols, privacy tokens, and OTC networks.
- WhiteRock_Fi has been delisted from several exchanges following investor pressure.
- The case shows how blockchain forensic tools and international legal collaboration are catching up to sophisticated scammers.
Why It Matters
This story is more than a single arrest — it signals a turning point in crypto law enforcement. With AI-generated scams and cross-chain laundering on the rise, regulators and platforms are doubling down on KYC, AML protocols, and on-chain monitoring.
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Thank you!
Author: Slava Vasipenok
Founder and CEO of QUASA (quasa.io) - Daily insights on Web3, AI, Crypto, and Freelance. Stay updated on finance, technology trends, and creator tools - with sources and real value.
Innovative entrepreneur with over 20 years of experience in IT, fintech, and blockchain. Specializes in decentralized solutions for freelancing, helping to overcome the barriers of traditional finance, especially in developing regions.
This is not financial or investment advice. Always do your own research (DYOR).
