{"id":22786,"date":"2025-04-07T15:41:46","date_gmt":"2025-04-07T12:41:46","guid":{"rendered":"https:\/\/forklog.com\/en\/zkasino-scam-wallet-loses-27-million-on-ethereum-long-position\/"},"modified":"2025-04-07T15:41:46","modified_gmt":"2025-04-07T12:41:46","slug":"zkasino-scam-wallet-loses-27-million-on-ethereum-long-position","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/zkasino-scam-wallet-loses-27-million-on-ethereum-long-position\/","title":{"rendered":"ZKasino Scam Wallet Loses $27 Million on Ethereum Long Position"},"content":{"rendered":"<p>The perpetrator behind the fraudulent project <a href=\"https:\/\/forklog.com\/en\/news\/zkasino-initiates-eth-recovery-process\">ZKasino<\/a>, who stole over $40 million, liquidated a leveraged 20x long position in Ethereum (ETH) on Hyperliquid. The loss amounted to $27.1 million, as noted by Onchain Lens.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">A scammer gets a dose of karma.<\/p>\n<p>The ZkCasino scammer, who scammed $40M+, closed its <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> (20x) position on <a href=\"https:\/\/twitter.com\/hashtag\/Hyperliquid?src=hash&#038;ref_src=twsrc%5Etfw\">#Hyperliquid<\/a>, faced a total loss of $27.1M.<a href=\"https:\/\/t.co\/2j6woL4KVM\">https:\/\/t.co\/2j6woL4KVM<\/a> <a href=\"https:\/\/t.co\/cWEkWiQxDc\">pic.twitter.com\/cWEkWiQxDc<\/a><\/p>\n<p>\u2014 Onchain Lens (@OnchainLens) <a href=\"https:\/\/twitter.com\/OnchainLens\/status\/1909146091595153773?ref_src=twsrc%5Etfw\">April 7, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;A scammer gets a dose of karma,&#8221; noted the authors of the analytical resource.<\/p>\n<\/blockquote>\n<p>The project was marketed as a gambling and blockchain casino platform, misleading investors with promises that they could recover their funds within 30 days, <a href=\"https:\/\/x.com\/WuBlockchain\/status\/1909186181025399105?t=G1DlQq2dHe2dFWdOT32ebw&#038;s=19\">recalled<\/a> Colin Wu.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The developers of ZKasino bet everything on ETH, and the market got them; it seems the casino doesn&#8217;t always win,&#8221; <a href=\"https:\/\/x.com\/MrOneTweetMan\/status\/1909197534544658607\">commented<\/a> one user.<\/p>\n<\/blockquote>\n<p>Some traders successfully capitalized on <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-tumbles-below-75000\">market volatility on April 7<\/a>. A whale who opened a long position in ETH with $4.52 million and 20x leverage closed the position three hours later with a profit of $1.87 million.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">A whale who opened a long position with $4.52M in <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> (20x) has closed the entire position, making a profit of $1.87M, in 3 hours.<a href=\"https:\/\/t.co\/Y9aVQ3BcL2\">https:\/\/t.co\/Y9aVQ3BcL2<\/a> <a href=\"https:\/\/t.co\/NavTtzaXZU\">pic.twitter.com\/NavTtzaXZU<\/a><\/p>\n<p>\u2014 Onchain Lens (@OnchainLens) <a href=\"https:\/\/twitter.com\/OnchainLens\/status\/1909195981272519015?ref_src=twsrc%5Etfw\">April 7, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Bitcoin, after dropping below $75,000, recovered to around $76,700 (<a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>). Amid the rebound, a large trader deposited $5 million in USDC, opening a long position with 20x leverage at a price of $77,231.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">A whale just deposited $5M <a href=\"https:\/\/twitter.com\/search?q=%24USDC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$USDC<\/a> and opened a <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> long position with 20x leverage at $77,231.<a href=\"https:\/\/t.co\/JWPzi3qIPP\">https:\/\/t.co\/JWPzi3qIPP<\/a> <a href=\"https:\/\/t.co\/gGmgexO2SW\">pic.twitter.com\/gGmgexO2SW<\/a><\/p>\n<p>\u2014 Onchain Lens (@OnchainLens) <a href=\"https:\/\/twitter.com\/OnchainLens\/status\/1909190016502567345?ref_src=twsrc%5Etfw\">April 7, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/www.coinglass.com\/LiquidationData\">Coinglass<\/a>, in the past 24 hours, the volume of liquidations in the options market reached $1.43 billion, with longs accounting for $1.22 billion. The closure of positions affected over 461,600 traders.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"307\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Liquidations-Cryptocurrency-Liquidations-Real-Time-Liquidation-Heatmap-Binance-Liquidations-CoinGlass-Google-Chrome-5-1024x307.jpg\" alt=\"Bitcoin-Liquidations-Cryptocurrency-Liquidations-Real-Time-Liquidation-Heatmap-Binance-Liquidations-CoinGlass-Google-Chrome-5\" class=\"wp-image-255996\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Liquidations-Cryptocurrency-Liquidations-Real-Time-Liquidation-Heatmap-Binance-Liquidations-CoinGlass-Google-Chrome-5-1024x307.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Liquidations-Cryptocurrency-Liquidations-Real-Time-Liquidation-Heatmap-Binance-Liquidations-CoinGlass-Google-Chrome-5-300x90.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Liquidations-Cryptocurrency-Liquidations-Real-Time-Liquidation-Heatmap-Binance-Liquidations-CoinGlass-Google-Chrome-5-768x230.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Liquidations-Cryptocurrency-Liquidations-Real-Time-Liquidation-Heatmap-Binance-Liquidations-CoinGlass-Google-Chrome-5.jpg 1363w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: Coinglass.<\/figcaption><\/figure>\n<p>The largest single liquidation of $7.08 million was recorded on the OKX platform.<\/p>\n<p>Earlier, a market correction <a href=\"https:\/\/forklog.com\/en\/news\/market-correction-triggers-106-million-ethereum-whale-liquidation\">led to the closure<\/a> of a position of 67,570 ETH ($106 million) on the DeFi platform <a href=\"https:\/\/forklog.com\/en\/news\/makerdao-rebrands-as-sky-introduces-new-tokens\">Sky<\/a> due to the collateral ratio falling below the threshold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The perpetrator behind the fraudulent project ZKasino, who stole over $40 million, liquidated a leveraged 20x long position in Ethereum (ETH) on Hyperliquid. The loss amounted to $27.1 million, as noted by Onchain Lens. A scammer gets a dose of karma. The ZkCasino scammer, who scammed $40M+, closed its $ETH (20x) position on #Hyperliquid, faced [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1145],"class_list":["post-22786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=22786"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22786\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/22785"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=22786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=22786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=22786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}