ZKasino announces the launch of the ETH bridge refund process, but the community still has doubts.

The decentralized betting platform ZKasino recently announced that it will initiate an ETH refund process for users who do not participate in the ZKAS token conversion. Previously, the platform attracted approximately $33.2 million in ETH through a bridge reward program. However, this news has not alleviated the community's concerns.

ZKasino completed its Series A financing in March this year with a valuation of $350 million, but soon fell into controversy. In mid-April, after ZKasino ended its bridge reward activity, users found they could not withdraw funds, and the project team did not clearly specify the exact time for withdrawing.

What is more concerning is that multiple people have accused the ZKasino team of withholding payments or being involved in fraud. Ethereum co-founder Vitalik Buterin has also publicly pointed out that ZKasino has not actually utilized any zero-knowledge proof technology, but is merely hosted on the zksync platform.

In early May, Dutch authorities arrested a 26-year-old man, accusing him of being involved in a large-scale scam related to ZKasino. It is reported that global victims invested over $30 million in cryptocurrency on the platform.

Under the pressure of these events, ZKasino seems to be forced to choose to refund the community. However, its latest announced two-step bridge process has raised questions again:

1. The registration period is only 72 hours and coincides with working days, which may cause many users to miss the opportunity.

2. ZKasino requires users to deposit ZKAS tokens back into the smart contract controlled by it, rather than directly refunding ETH.

3. The platform seems to have avoided the issue of staking rewards obtained from user deposits. It is estimated that this portion of rewards may exceed $100,000.

4. The announcement repeatedly uses vague time expressions, such as "in the next few days", "as soon as possible", etc., without providing a specific refund timeline.

Despite ZKasino's claims of operating legally, legal issues, investor skepticism, and the recent refund announcement still leave many unanswered questions. As the 72-hour registration deadline approaches, the crypto community is closely monitoring whether ZKasino can deliver on its promises or if more complications will arise.