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On-chain investigator ZachXBT has uncovered connections between the team behind WhiteRock, a rapidly emerging crypto project, and the infamous ZKasino exit scam. This revelation has raised significant concerns within the cryptocurrency community, particularly among investors.

WhiteRock’s Rapid Rise and Troubling Links

Launched in 2024, WhiteRock’s token ($WHITE) gained quick traction in the crypto market, boasting over 10x gains and promising to bring the stock market on-chain. The project also claimed several major partnerships to bolster its credibility. However, seasoned observers, including crypto investigator ZachXBT, noticed several red flags early on.

On June 16, 2025, ZachXBT shared evidence linking WhiteRock to the $30 million ZKasino exit scam. According to the investigator, on-chain transactions and a personal email used by a WhiteRock team member connected the project to ZKasino’s fraudulent activities. He revealed that funds from ZKasino’s presale wallets were transferred to WhiteRock’s marketing wallet and subsequently used to pay influencers for promotional campaigns.

“At least one team member from the $30M ZKasino exit scam appears to be involved with the WhiteRock project due to on-chain transactions linking both projects and a personal email address.” – ZachXBT

Early Warning Signs for Cautious Investors

Even before the recent allegations, WhiteRock had set off alarm bells for many in the crypto community. The project’s anonymous team offered no verifiable history, and its marketing strategy included questionable claims about partnerships and user numbers.

According to ZachXBT, some of the early red flags for WhiteRock included:

  • An anonymous team with no transparent track record.
  • Accusations of faking partnerships with major institutions.
  • Multiple side wallets funded via instant exchanges, raising questions about fund flow transparency.
  • Exaggerated claims about user adoption and project scale.

False Partnership Claims

One of the most concerning aspects of WhiteRock’s strategy was its alleged partnerships with major financial institutions such as StoneX, BlackRock, and First Citizens Bank. Upon investigation, there was no verifiable evidence supporting these claims. In fact, StoneX publicly denied any affiliation with WhiteRock, casting further doubt on the project’s legitimacy.

Additionally, the project fueled hype with rumors about a potential partnership with a Saudi oil giant. On May 30, 2025, the token surged 110% following unverified claims of collaboration with Ripple to tokenize the oil supply chain for Saudi Aramco. These rumors, however, remain unsubstantiated.

What This Means for Crypto Investors

The allegations against WhiteRock serve as a stark reminder for investors to conduct thorough due diligence before committing funds to any cryptocurrency project. Here are some tips to stay safe while investing:

  • Research the team: Avoid projects with anonymous teams or individuals with questionable histories.
  • Verify partnerships: Always confirm the legitimacy of claimed partnerships with official announcements or credible sources.
  • Check on-chain activity: Use blockchain explorers to investigate fund movements for transparency.
  • Beware of hype: Be cautious of projects that rely on rumors or unverifiable claims to drive token value.
  • Look for audits and documentation: Legitimate projects often undergo third-party audits and provide detailed whitepapers.

While the cryptocurrency space offers exciting opportunities, it’s also rife with risks. Stories like WhiteRock and ZKasino underscore the importance of staying vigilant and informed. For investors, the key takeaway is to prioritize transparency and accountability in any project they consider supporting.

Stay updated on the latest cryptocurrency news and developments to make informed decisions in this ever-evolving market.

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