Crypto:
30188
Bitcoin:
$68.421
% 1.73
BTC Dominance:
%54.4
% 0.13
Market Cap:
$2.44 T
% 3.67
Fear & Greed:
74 / 100
Bitcoin:
$ 68.421
BTC Dominance:
% 54.4
Market Cap:
$2.44 T

Vitalik Buterin on ZKasino Scandal: Even Scammers Are Eyeing “ZK”

Vitalik B 1

Ethereum co-founder Vitalik Buterin has commented on ZKasino, which was involved in a $350 million scam.

In a social media post on April 24, Vitalik Buterin made a brief statement about ZKasino. Stating that ZKasino had nothing to do with Zero Knowledge (ZK) technology except that it was on the ZkSync network and had “ZK” in its name, Buterin touched on a remarkable point in the continuation of his statement.

Stating that even scammers have now started to use at least the name of ZK technology, he argued that everyone should adapt to this popularizing phenomenon:

There’s nothing “ZK” about ZKasino except that it lives on zksync, right? I guess we have to adapt; even “ZK” is now a common enough buzzword that scammers have fully adopted.

ZKasino, which raised $26 million from a group of investors, including crypto exchange MEXC, and reached a valuation of $350 million, had recently shaken the market with its scandalous decisions.

ZK (Zero Knowledge) technology allows a person to prove that they have a secret piece of information without revealing it, using cryptographic techniques. This can be likened to real-world scenarios such as someone verifying your identity without having to share your password.

Rate this post
READ:  Crypto Vesting Unlocks $875M in June

Leave a Reply

Your email address will not be published. Required fields are marked *