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ZachXBT Alleges Blockdag Extracted at Least $350 Million From Investors

ZachXBT Alleges Blockdag Extracted at Least $350 Million From Investors

According to ZachXBT, BlockDAG and ZKP presale funds may have been commingled with Spartans-related payment flows as investor complaints mounted over an unlaunched mainnet, undelivered miners, and missing disclosures.

Fact Check
The claim accurately represents ZachXBT's public allegations. ZachXBT's own X posts (2056610555637485932 and 2057077959031509281) are the primary sources and directly confirm: (1) the $350M extraction allegation against Gurhan Kiziloz via BlockDAG, and (2) the commingling of BlockDAG and ZKP presale funds with Spartans KOL payment flows. Multiple independent news outlets - PANews, Cryptopolitan, Odaily, and CryptoTimes - all corroborate the same allegations with consistent figures and details. The claim's framing as ZachXBT's allegations (not proven facts) is accurate. The only minor nuance is that the $350M figure relates to total extraction from investors, while the $25M commingling figure is the on-chain-traced amount specifically flowing to Spartans. The claim's title and body together capture both dimensions correctly. No responses or rebuttals from BlockDAG, ZKP, or Spartans were found in the evidence gathered.
Summary

Blockchain investigator ZachXBT alleged that Gurhan Kiziloz extracted at least $350 million from BlockDAG investors while the project failed to launch its mainnet or deliver miners, and later said additional on-chain tracing showed at least $25 million in BlockDAG and ZKP presale funds may have been commingled with Spartans-related KOL payment addresses. He said BlockDAG shifted toward Spartans, described as a crypto gambling project, while still promoting potential 300x returns to presale buyers. ZachXBT also said he found no disclosure in BlockDAG or ZKP presale materials indicating funds could be used to promote a separate venture, and reported that more than 10 investors contacted or tagged him claiming losses and that the product remained nonfunctional after more than two years of token presales. Spartans responded on May 20 by thanking him for what it called free advertising and said it had given him a 30% revenue share code for betting-platform signups.

Terms & Concepts
  • mainnet: A live blockchain network where real transactions are processed and settled, unlike a test environment.
  • On-chain tracing: The process of following blockchain transactions and wallet movements publicly recorded on-chain to identify how funds moved between addresses or platforms.
  • presale: An early token sale that lets investors buy before a public launch, typically to fund development.