Millions to Nowhere: Zero Edge Founder Accused of Fraud
Investors believed and were left with nothing. Former top manager of large financial structures Richard Kim was at the center of a high-profile scandal. According to the FBI, he fraudulently attracted more than $7 million in the Zero Edge startup, which was positioned as an innovative blockchain casino.
Kim introduced himself as the "lead architect" of the project and used his professional reputation: before that, he worked at JP Morgan, Goldman Sachs and the law firm Cleary Gottlieb. In 2024, he left Galaxy Digital to launch Zero Edge. Everything looked ambitious, until the money disappeared.
Phishing, crypto market, and casinos
Just a week after raising investments, Kim reported a loss of $80,000 due to phishing. Then he admitted that he "poured" $3.8 million into risky cryptocurrency transactions using borrowed funds.
Despite this, Kim continued to assure investors for several months that the project was developing. Only in June, he confessed to serious losses and his own negligence, stressing that he had no intention of absconding with the money.
However, according to investigators, some of the funds raised were transferred to Shuffle.com, a gambling site where Kim apparently continued to gamble with investors' money.
Hackers Attack Not Only Players
The crypto casino industry remains highly risky — not only for players and investors, but also for the platforms themselves. Last year, the Duelbits platform suffered a hacker attack: attackers managed to compromise the private key and steal $4.6 million.
ravenmilkers If Black Cube is really just an operator, then who spent money on such a large-scale operation? It doesn't cost 5 kopecks.
BatBulo4ka 5 thousand a day - well, this is no longer a player, but some kind of investor. It is quite reasonable to limit it.
CertifiedNiggur And then they wonder why the players are paranoid... Even dealers can no longer be trusted.
ImBrainless Damn, how sick these casinos are with their blocks! I had a situation in the pin-up, just when a big win was shining - 8k. And what do you think? They blocked the under the pretext of "suspicious activity". Two months of correspondence, and only after threatening to write to the regulator, the money was returned. Now I check 100 times where I go. Thank you for the article, a relevant topic!
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Not surprised at all.