WhiteRock Scam Allegation Triggers 8% Price Spike Then Crash

Key Points

• WhiteRock Scam Allegation Triggers 8% Price Spike Then Crash
• ZachXBT links WhiteRock to $30M ZKasino rug pull
• Developer Max G. denies allegations in a live stream
• Investor doubts remain as blockchain ties raise red flags

The crypto market just witnessed one of its strangest price movements this week. Popular on-chain investigator ZachXBT publicly accused WhiteRock (WHITE) of being linked to the $30 million ZKasino rug pull. But instead of tanking, WHITE surged over 8%, only to crash just as fast during a live-streamed denial from the project’s developer.

This bizarre turn of events has left many scratching their heads — and questioning what’s really going on behind the scenes.

ZachXBT, known for exposing shady projects, didn’t hold back. His investigation suggested that some WhiteRock developers had direct ties to ZKasino, a notorious scam that rocked the crypto world in 2024. He pointed out a key detail: blockchain evidence shows influencer payments from wallets linked to ZKasino funds.

1/ Community Alert: At least one team member from the $30M Zkasino exit scam appears to be involved with the project @WhiteRock_Fi $WHITE due to onchain transactions linking both projects and a personal email address. pic.twitter.com/rZSvLM98fR

— ZachXBT (@zachxbt) June 16, 2025

Naturally, the crypto community took notice. But what followed next was truly puzzling — instead of dumping the token, traders pushed WHITE’s price up by more than 8%.

Just as people started calling the move “suspicious,” WhiteRock developer Max G. jumped on a livestream. His goal: calm the chaos and deny any wrongdoing. But his explanations didn’t satisfy everyone.

“Even if one employee worked on a failed project, it doesn’t discredit everything we’ve built,” said Max G., brushing off ZachXBT’s evidence. “You can believe in our vision or listen to random FUD.

Yet the market didn’t seem convinced. As the livestream aired, WHITE began tumbling, erasing its earlier gains and dipping back into negative territory.

5/ I found an influencer who was paid via a WhiteRock marketing wallet and they confirmed they were paid from

0xfd978bcb706133403cf2fe0e07d872342c81266b

Tracing out 0xfd97 shows a clear commingling of funds from the WhiteRock marketing wallet and Zkasino stolen funds.

I also… pic.twitter.com/kGEy9POxz3

— ZachXBT (@zachxbt) June 16, 2025

Is WhiteRock Just Another ZKasino in Disguise?

ZachXBT’s accusation holds weight. With a long history of exposing frauds, his research is rarely dismissed. He didn’t just speculate — he posted transaction links and wallet trails that suggest money laundering and shady backroom deals.

One standout claim: an influencer promoting WHITE was paid from a wallet tied to stolen ZKasino funds. That revelation kicked off speculation that WhiteRock is not just a risky investment, but possibly a continuation of the same scam.

6/ An unnamed source provided a personal email of an account that interacted multiple time with the WhiteRock deployer address.

I noticed the email has an account on Chess(.)com with the username IldarTheGrandMaster.

Prometheus from Zkasino = Ildar
Whiterock alias = Goedel… pic.twitter.com/CcQgGm7Etl

— ZachXBT (@zachxbt) June 16, 2025

To add to the fire, ZachXBT even called out crypto exchanges like MEXC and Gate.io, urging them to delist the token due to the growing concerns.

Max G., in his live defense, admitted there may have been “overlaps” between former employees and ZKasino, but insisted this was purely coincidence. Still, commenters during the stream weren’t buying it. Some accused Max G. of trying to spin the story, while others wondered if market manipulation was in play given the odd timing of the price spike.

What makes this more alarming is how WHITE rallied briefly after the scam call, before falling again once the team responded — suggesting that insiders may be buying the dip to offload bags, or simply exploiting confusion for short-term profit.

Live now!https://t.co/D4oKPxvUof

— WhiteRock (@WhiteRock_Fi) June 16, 2025

This isn’t the first case of sudden price drops following security concerns. We’ve recently seen similar chaos when the ZKJ token crashed after investor trust collapsed, and during the LastPass crypto hack fallout where over $200K was lost.

This guy by his actions of hands and facial expressions is lying out of his teeth and is not to be trusted..

— Oscar Soares (@666OscarDubai) June 16, 2025

Community Calls for Exchange Delisting Grow Louder

As the drama unfolds, more voices from the crypto community are urging exchanges to act quickly. ZachXBT’s post specifically tagged MEXC and Gate.io, calling for them to remove WHITE from their listings to prevent more retail investors from getting caught in what could be a scam.

This isn’t just an online outcry — several influencers and blockchain analysts have echoed the demand, stating that platforms have a responsibility to vet suspicious tokens.

@WhiteRock_Fi why are you reading? U are for sure reading if it was your position u should know how to describe explain etc u keep looking at the computer and reading that means this is a scam lie project! They are fake I can’t believe I invest whitenet!!😡😡

— 8sekans (@44Regulus) June 16, 2025

In response, no major exchange has taken formal action yet, but community pressure is building. If exchanges don’t act soon, they may face backlash for enabling what some believe is a second wave of the ZKasino fraud under a new name.

Meanwhile, investors holding WHITE are in a risky position, unsure whether the token will recover or crash further. The price volatility, combined with serious trust issues, makes WHITE one of the most watched tokens of the week — but not necessarily for good reasons.

WhiteRock (WHITE) Price Performance. Source: CoinGecko – Techtoken

This comes during a broader market moment where trust is under stress. Just recently, the Pi Network faced backlash over its domain strategy failing to deliver real momentum. Similarly, regulatory pressure has intensified after incidents like the Tornado Cash witness being blocked, raising serious concerns about decentralized project oversight.

With Bitcoin dominance jumping 1.4% as the total market cap shrinks, traders are clearly turning cautious, prioritizing safer bets over speculative plays like WHITE.

Until there’s more clarity or action from regulators or platforms, the WhiteRock scam allegations will continue to stir unease across crypto circles.