BlockDAG Network
Summary
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.
Timeline(22 events)
2020-11-01
UK Financial Conduct Authority (FCA) issues consumer warning against Lanistar for operating financial services without authorization. Warning is later retracted.
CryptoNews2023-01-01
Gurhan Kiziloz linked to Big Eyes Coin, a meme token that raised over $40 million before collapsing after launch.
Yahoo Finance / CryptoNews2024-08-28
BlockDAG announces a reported $10 million three-year sponsorship deal with Borussia Dortmund, described as the largest crypto deal in German football history.
Insider Sport2024-08-30
BlockDAG announces sponsorship deal with Inter Milan as 'official club blockchain partner'.
Insider Sport2024-09-27
Borussia Dortmund issues a payment default notice to BlockDAG for 2,007,444 EUR owed.
DL News2025-03-19
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)2025-06-01
Inter Milan issues cease-and-desist to BlockDAG for material breach of sponsorship contract.
DL News2025-08-01
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 News2025-10-29
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 / Cryptopolitan2025-11-01
BWT Alpine F1 Team notifies BlockDAG of $1.4 million overdue sponsorship payment; December 3, 2025 deadline for contract termination issued.
DL News2025-12-29
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 News2026-01-14
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 News2026-02-04
BlockDAG introduces an 'AfterSale' phase with token pricing inconsistent with presale terms and no documented mechanics or allocation size.
OpenPR2026-05-20
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 and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/22/2026, 3:00:42 PM
last updated: 5/22/2026, 3:01:21 PM
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