03.07.2025 21:29

Ildar Ilham, the 21-year-old founder of the WhiteRock decentralized finance (DeFi) protocol and known online as Prometheus, was apprehended in the United Arab Emirates (UAE). This arrest, occurring less than a month after his alleged involvement in the $30 million Zkasino scam, marks a significant development in the ongoing investigation. He now faces extradition to the Netherlands, where he will stand trial following the issuance of an Interpol Red Notice on March 6th.

Ilham's connection to the Zkasino scam was first publicly highlighted by on-chain investigator ZachXBT in June. ZachXBT revealed evidence linking on-chain transactions and a personal email address, implicating at least one WhiteRock team member in the fraudulent activities. Zkasino, which initially raised $33 million in a 2024 presale, infuriated investors by staking the funds with Lido Finance instead of returning them as promised. This incident is not an isolated case, as ZachXBT previously labeled the team behind Zkasino as "proven bad actors" as early as 2023.

Further on-chain analysis revealed the commingling of funds stolen from Zkasino with WhiteRock's marketing wallet. This, coupled with other red flags surrounding WhiteRock, which launched its WHITE token in November 2024, led ZachXBT to express serious concerns about the project's stability and potential for another rug pull. He urged centralized exchanges to delist the WHITE token, citing the team's history. The WHITE token, initially launched with a $30 million market cap, experienced a meteoric rise to $2 billion in June before its value plummeted to $490 million. Claims of over $150 million in total value locked (TVL) on the WhiteRock website remain unverifiable through reliable data sources. This arrest underscores the increasing scrutiny of the DeFi space and the growing efforts to hold perpetrators of fraudulent activities accountable.