#gambling

The blockchain gambling project ZKasino has transferred 10,515 ETH ($33 million) of user funds to the Lido staking protocol, despite initially promising to return them to their owners.

Singapore witnessed one of its largest crackdowns on money laundering last month. 400 police officers coordinated raids throughout the city-state, detaining 10 foreigners. These individuals allegedly were "laundering the proceeds of their overseas organised crime activities, including scams and online gambling". The seizures were significant, totaling $1.76 billion, with cryptocurrencies accounting for nearly $30 million. The operation also led to the confiscation of 68 gold ingots, 110 real estate holdings, and 62 cars. Sketches released provide a look at those under suspicion.

Australia has enforced new online gambling regulations that ban the use of cryptocurrencies for betting. This restriction also applies to credit cards connected to crypto wallets.

An old study examining the performance of 18,000 regular gamblers in casino games found that only 13% were profitable over a two-year period. The results were even starker for day traders, where less than 1% consistently generated a positive return over the same period.