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Crypto Casino Founder Arrested After Gambling Investor Funds

The former Galaxy executive now faces securities fraud charges after allegedly gambling away investor funding.

Apr 17, 2025 • 1 min read

Richard Kim, founder of crypto casino Zero Edge, was arrested for fraud after misappropriating $7M of investor funds for gambling and personal use.

What’s the Scoop?

High-Profile Arrest: Richard Kim, founder of Zero Edge, was arrested on securities and wire fraud charges after losing nearly all of $7 million raised.
Misappropriated Funds: Kim diverted investor funds into personal crypto accounts and gambling platforms, contradicting his claims of safeguarding investments.
Investor Fallout: Major backers, including Galaxy Digital, reported Kim's behavior to authorities, resulting in swift legal action.

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