Dutch financial crime investigators arrested a 26-year-old man on Monday for charges of fraud, embezzlement, and money laundering related to an alleged rug pull scheme behind the Web3 gambling network ZKasino.

Investigators searched the suspect’s home and seized physical and digital records, and various assets worth 11.4 million euros ($12.2 million) that include real estate and cryptocurrencies, the Fiscal Information and Investigation Service of the Netherlands (FIOD) said in a statement today.

The FIOD added that there is a possibility of more arrests related to ZKasino in the future. While the statement did not explicitly state how the suspect was involved with the project, the FIOD told The Block that he is part of the ZKasino team.

ZKasino, which set out as a decentralized …