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ZachXBT Says $25 Million in BlockDAG Network and ZKP Presale Funds May Be Commingled

ZachXBT Says $25 Million in BlockDAG Network and ZKP Presale Funds May Be Commingled

According to ZachXBT, further on-chain tracing linked BlockDAG and ZKP presale wallets to Spartans-related payment flows, while he said missing disclosures and rising investor complaints added to concerns.

Fact Check
The claim is accurately attributed: ZachXBT's own X post (https://x.com/zachxbt/status/2057077959031509281), published May 20, 2026, is the direct primary source and explicitly states 'at least $25M of commingling between Blockdag & ZKP presale funds with Spartans KOL payment addresses onchain,' citing four on-chain sources. The claim as stated is a report of ZachXBT's allegation, and that allegation is confirmed as having been made. Three independent news outlets (Cryptopolitan, Odaily, CryptoTimes) reported the same details on the same day, all consistent with the original post. The DL News investigative piece from January 2026 provides prior corroborating context about BlockDAG's financial opacity and Kiziloz's background. The small residual uncertainty (0.08) reflects that the underlying on-chain commingling allegation itself has not yet been independently verified by a third-party blockchain analytics firm, and no response from BlockDAG, ZKP, or Spartans disputing or confirming the figures was found.
Summary

Blockchain investigator ZachXBT said additional on-chain tracing showed at least $25 million in alleged commingled presale funds tied to BlockDAG Network and ZKP, with flows linked to Spartans-related KOL payment addresses. He said he found no disclosure in the original BlockDAG Network or ZKP presale materials indicating that funds could be used to promote a separate venture. ZachXBT also reiterated earlier warnings about Gurhan Kiziloz, alleging ties between Kiziloz, Spartans Bet, and BlockDAG, and said more than 10 investors had contacted or tagged him claiming losses and alleging the BlockDAG product was still not functional 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 users who sign up for the betting platform.

Terms & Concepts
  • 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.
  • KOL: Key opinion leader, a promoter or influencer paid to market a product or project to an online audience.
  • Presale: A fundraising phase in which tokens are offered to investors before public launch, typically with stated terms on use of proceeds and project development.