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Crime Report Post
🚨 Zero Edge Founder ARRESTED — $3.8M Spent Gambling
Richard Kim, founder of Zero Edge, has been charged with securities and wire fraud after misusing investor funds for gambling. $3.8 million gone.
This is why trustless systems matter.
The crypto isn’t the scam — some people in it are.
#GhostOfTheBlock #CryptoScams #ZeroEdge #CryptoNews
🚨 Zero Edge Founder ARRESTED — $3.8M Spent Gambling
Richard Kim, founder of Zero Edge, has been charged with securities and wire fraud after misusing investor funds for gambling. $3.8 million gone.
This is why trustless systems matter.
The crypto isn’t the scam — some people in it are.
#GhostOfTheBlock #CryptoScams #ZeroEdge #CryptoNews
🚨🚨 #ZeroEdge 🚨🚨
🚨 Crypto Scandal: Zero Edge Founder Richard Kim Arrested for Misusing Investor Funds
Who is Richard Kim? Founder of crypto casino Zero Edge; formerly with JPMorgan, Goldman Sachs, and Galaxy Interactive.
What happened? After raising over $7 million for Zero Edge, Kim lost approximately $3.67 million through risky leveraged Bitcoin trades.
How did it start? An initial $80,000 loss due to a phishing scam triggered a series of high-risk trades in an attempt to recover funds.
Admission and Resignation: Kim admitted to a long-standing gambling addiction, resigned on July 2, and reported himself to the SEC.
Investor Impact: Major investors, including Galaxy Digital, reported Kim to authorities. The future of Zero Edge remains uncertain.
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This incident underscores the importance of transparency and risk management in crypto ventures.
🚨 Crypto Scandal: Zero Edge Founder Richard Kim Arrested for Misusing Investor Funds
Who is Richard Kim? Founder of crypto casino Zero Edge; formerly with JPMorgan, Goldman Sachs, and Galaxy Interactive.
What happened? After raising over $7 million for Zero Edge, Kim lost approximately $3.67 million through risky leveraged Bitcoin trades.
How did it start? An initial $80,000 loss due to a phishing scam triggered a series of high-risk trades in an attempt to recover funds.
Admission and Resignation: Kim admitted to a long-standing gambling addiction, resigned on July 2, and reported himself to the SEC.
Investor Impact: Major investors, including Galaxy Digital, reported Kim to authorities. The future of Zero Edge remains uncertain.
---
This incident underscores the importance of transparency and risk management in crypto ventures.
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