BlockDAG Network
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anchored·2co3n1…c64eSummary
BlockDAG Network (BDAG) is a cryptocurrency project that ran a presale from December 2023 through February 2026, claiming to raise over $442 million, though its CEO stated publicly the actual figure was approximately $200 million. On-chain investigator ZachXBT and a DL News investigation have alleged that the project's true co-founder, Gurhan Kiziloz, operated behind the scenes while using a paid frontman as public CEO, transferred presale funds through Middle Eastern OTC brokers, and commingled at least $25 million in presale proceeds from BlockDAG and a sister project (ZKP) to pay influencers promoting Kiziloz's casino venture. Following its February 2026 token launch, BDAG fell approximately 99.98% from its all-time high within two months.
Connected Entities
6 entities · 60 linked investigations- BlockDAG Network→mentioned with→Ethereum(60%)
- Gurhan Kiziloz→mentioned with→Binance(60%)
- BlockDAG Network→mentioned with→Binance(60%)
- BlockDAG Network→mentioned with→ZachXBT(70%)
- Gurhan Kiziloz→mentioned with→ZachXBT(70%)
- ZachXBT→mentioned with→Ethereum(70%)
- ZachXBT→mentioned with→Binance(60%)
- Binance→mentioned with→Ethereum(65%)
- BlockDAG Network→mentioned with→Gurhan Kiziloz(80%)
- Gurhan Kiziloz→mentioned with→BlockDAG Network(80%)
- + 1 more
Community submissions
- Under reviewincriminating10/2/2026, 10:18:26 PM
“ZachXBT on-chain trace alleging $25M of BlockDAG/ZKP presale funds commingled and diverted to pay influencers promoting Kiziloz's undisclosed Spartans.com venture.”
— avoid-scout
“DL News primary-document investigation showing $242M fundraising discrepancy, undelivered mining orders, and three major sports sponsor breach-of-contract letters”
— avoid-scout
“DL News Jan 15, 2026 investigation with 13 sources and internal documents; CEO admits only $200M raised vs. $442M claimed; thousands of undelivered mining orders; three major sponsor breach-of-contract letters.”
— avoid-scout
“DL News-sourced investigation documenting $300M presale fraud allegations, missed launch dates, unpaid salaries, and fund routing concerns — multi-source corroboration”
— avoid-scout
“ZachXBT and DL News investigation: $300M raised, $110M OTC-routed, sports sponsorship contract breaches, 24 employees unpaid — most substantive published evidence on BlockDAG”
— avoid-scout
Timeline(22 events)
November 2020
UK Financial Conduct Authority (FCA) issues consumer warning against Lanistar for operating financial services without authorization. Warning is later retracted.
CryptoNews2023
Gurhan Kiziloz linked to Big Eyes Coin, a meme token that raised over $40 million before collapsing after launch.
Yahoo Finance / CryptoNews28 August 2024
BlockDAG announces a reported $10 million three-year sponsorship deal with Borussia Dortmund, described as the largest crypto deal in German football history.
Insider Sport30 August 2024
BlockDAG announces sponsorship deal with Inter Milan as 'official club blockchain partner'.
Insider Sport27 September 2024
Borussia Dortmund issues a payment default notice to BlockDAG for 2,007,444 EUR owed.
DL News19 March 2025
Financial Services Authority of Seychelles issues an unauthorized activity warning against DAG SYSTEMS LTD. (www.blockdag.network) for failing to register the BDAG coin offering.
FSA Seychelles (official regulatory notice)June 2025
Inter Milan issues cease-and-desist to BlockDAG for material breach of sponsorship contract.
DL NewsAugust 2025
Inter Milan sends letter demanding BlockDAG remove 'official blockchain partner' claims from all marketing. Goldshell August 2025 sales agreement records 2,550 X30 and 2,250 X100 miners as outstanding orders for BlockDAG.
DL News29 October 2025
ZachXBT publicly alleges that BlockDAG's 'Value Era' narrative is a cover-up, names Gurhan Kiziloz as the true co-founder, and alleges millions in presale funds transferred via Middle Eastern OTC brokers. BlockDAG blocks ZachXBT on X and hides his reply.
CryptoTimes / CryptopolitanNovember 2025
BWT Alpine F1 Team notifies BlockDAG of $1.4 million overdue sponsorship payment; December 3, 2025 deadline for contract termination issued.
DL News29 December 2025
During a public AMA with BlockDAG investors, Gurhan Kiziloz acknowledges his role, confirming he funded and initiated BlockDAG before appointing Antony Turner as CEO.
DL News14 January 2026
DL News publishes an investigation based on 13 insider interviews and thousands of documents into BlockDAG's $442 million claimed fundraise, missing miners, unpaid employees, and breached sponsorship contracts.
DL News4 February 2026
BlockDAG introduces an 'AfterSale' phase with token pricing inconsistent with presale terms and no documented mechanics or allocation size.
OpenPR20 May 2026
BDAG falls to approximately $0.000068, representing a decline of approximately 99.98% from its all-time high, with a 24-hour trading volume of approximately $3 million.
CoinMarketCap / CoinGabbarDecision Log
- hash: 2QBg2grbx7gP7DZaEKPr5zerJGLtuAhUm8cmrJUi1yKH
This investigation is cryptographically anchored to the Solana blockchain (1 event). 16 of 21 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/22/2026, 3:00:42 PM
last updated: 7/26/2026, 6:40:02 PM
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