04.07.2025 00:11

WhiteRock's native token, WHITE, has experienced a dramatic 25% price drop in the last 24 hours. This sharp decline follows reports of the arrest of its founder, Ildar Ilham, in the United Arab Emirates. The arrest is connected to an ongoing international investigation.

Ilham's detention was confirmed by blockchain investigator ZachXBT, who previously raised concerns about a potential link between Ilham and the $30 million Zkasino exit scam. A news report cited by ZachXBT indicates that a 21-year-old Norwegian man, believed to be Ilham, is being held in connection with this cryptocurrency fraud. Authorities are reportedly preparing his extradition to the Netherlands to face criminal charges.

ZachXBT's earlier warnings about WhiteRock highlighted several red flags. These included the team's anonymity, unsubstantiated partnership claims, and suspicious commingling of funds. Crucially, ZachXBT linked WhiteRock's marketing wallet to the $30 million stolen from Zkasino, strengthening concerns about the project's legitimacy. He expressed considerable reservations about WhiteRock's future, citing its previous involvement in projects like Zkasino, Syncus, and Zigzag.

Adding to the volatility, WHITE saw a significant price surge of over 116% on May 30th, fueled by rumors of a partnership with a Saudi Arabian oil company. This surge now appears to have been a fleeting anomaly. Currently trading at approximately $0.0006233, WHITE has suffered a significant 60% decline over the past month. The token remains listed on several cryptocurrency exchanges, despite the unfolding events. The future of WhiteRock and its token remains highly uncertain.