Wallet Linked to ZKasino Scam Loses $27.1 Million After 20x ETH Long Gets Liquidated

In a somewhat ironic turn of events, a wallet linked to ZKasino — a project that stole about $33 million in user deposits last year — lost $27.1 million after its ETH position got liquidated on decentralized exchange (DEX) Hyperliquid, according to an X post today, April 7, from blockchain data platform Onchain Lens. Onchain Lens reported that the scammer lost $27.1 million after closing its ETH 20x long position on the popular DEX. This loss was evidently due to the decline in ETH prices — alongside the broader markets — following President Trump’s reciprocal tariff announcement last week. According to CoinGecko data , Ethereum is down over 4% over the past 24 hours, and almost 15% on the week. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant