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{"actor":"system:backfill","investigation_id":"b2767005-2ef4-4b3c-a1f0-b7237d35f499","kind":"publish","page_slug":"blockdag-network","published_at":"2026-05-22T15:01:21.146Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"BlockDAG Network","sections":[{"content":"BlockDAG Network publicly presented Antony Turner as its founder and CEO beginning in July 2024. On-chain investigator ZachXBT alleged in October 2025 that Turner was a paid frontman and that the true co-founder is Gurhan Kiziloz, a UK-based entrepreneur. ZachXBT stated: 'The grifter Gurhan Kiziloz is the real co-founder secretly behind BlockDAG who pays people like Antony Turner to be the face of it while transferring away millions in presale funds from unsophisticated retail investors via Middle Eastern OTC brokers.' BlockDAG Network's response was to block ZachXBT on X (formerly Twitter) and hide the exposing thread. In December 2025, during an AMA with BlockDAG investors, Kiziloz himself acknowledged his involvement, stating he had funded and initiated BlockDAG before appointing Turner as CEO — partially corroborating ZachXBT's allegations. The public organizational structure listed Antony Turner as CEO, Jeremy Harkness as CTO, and Dr. Youssef Khaoulaj as security expert. The project was allegedly registered under DAG SYSTEMS LTD. (Seychelles), then reportedly relocated to Samoa, though no record of the company was found in Samoa's business registry.","heading":"Leadership and Hidden Founder Allegations","severity":"critical","sources":[{"credibility":2,"name":"ZachXBT accusation rocks BlockDAG leadership, claims 'Value Era' narrative is cover-up — Cryptopolitan","type":"news_article","url":"https://www.cryptopolitan.com/zachxbt-accusation-rocks-blockdag/"},{"credibility":2,"name":"BlockDAG Network Allegations: ZachXBT Links BDAG Presale to Gurhan Kiziloz — The Holy Coins","type":"news_article","url":"https://theholycoins.com/news/blockdag-network-linked-to-hidden-co-founder-and-missing-presale-funds-according-to-zachxbt"},{"credibility":2,"name":"Inside BlockDAG's $442m crypto maze of missing miners, unpaid employees, and breached contracts — DL News","type":"news_article","url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"credibility":3,"name":"BlockDAG Leadership Explained: CEO Antony Turner's Role and Responsibilities — Tribune India","type":"news_article","url":"https://www.tribuneindia.com/partner-exclusives/blockdag-leadership-explained-ceo-antony-turners-role-and-responsibilities/"}]},{"content":"BlockDAG launched its presale in December 2023, marketing 50 billion BDAG tokens over more than two years. The project's website claimed to have raised $442 million, while CEO Antony Turner stated in an interview with DL News that the actual figure was approximately $200 million. ZachXBT's on-chain analysis reportedly showed receipts totaling less than nine figures, suggesting material discrepancy with public claims. According to documented fund flows identified by DL News, at least $110 million was sent to Binance and BTSE exchanges, approximately $7 million moved through the Bridgers token-swap protocol, and $5 million to the Mimic DeFi protocol. ZachXBT alleged that large portions of investor capital were spent on luxury cars, watches, and real estate. The presale employed aggressive marketing tactics including advertisements promoting '95x POTENTIAL' and 'LAST 72 HOURS LOWEST ENTRY EVER at $0.0000022 for 85x', promises of 5–10% monthly returns, and repeated 'final chance' messaging followed by deadline extensions. When the official presale ended on February 2, 2026, the project immediately introduced an 'AfterSale' phase with pricing inconsistent with both the final presale tier and early exchange listings, continuing to collect investor funds with no documented explanation of the mechanics or allocation size.","heading":"Presale Fundraising and Alleged Fund Misappropriation","severity":"critical","sources":[{"credibility":2,"name":"Inside BlockDAG's $442m crypto maze of missing miners, unpaid employees, and breached contracts — DL News","type":"news_article","url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"credibility":2,"name":"BlockDAG Under Fire as Investigator Alleges $300M Scam — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/blockdag-under-fire-as-investigator-alleges-300m-scam/"},{"credibility":3,"name":"BlockDAG (BDAG) AfterSale Pricing Contradicts Presale Terms — OpenPR","type":"news_article","url":"https://www.openpr.com/news/4434342/blockdag-bdag-aftersale-pricing-contradicts-presale-terms-or"},{"credibility":2,"name":"ZachXBT Questions Where BlockDAG's $350M Really Went — CryptoNews.net","type":"news_article","url":"https://cryptonews.net/news/altcoins/32883435/"}]},{"content":"ZachXBT published findings alleging that at least $25 million in presale funds from BlockDAG Network and a separate project, Zero Knowledge Proof (ZKP), were commingled and routed to pay influencers and streamers for marketing Kiziloz's casino venture, Spartans.com. The alleged on-chain routing moved assets from BlockDAG and ZKP presale wallets to consolidated addresses, then transferred funds from Ethereum to the Tron blockchain, passed them through HTX and BTSE exchanges, and directed them to Spartans' operational wallet and influencer payment addresses. Independent on-chain investigator Jerry O'Callaghan also reported evidence that funds from ZKP and BlockDAG presales were funneled into the same destination wallets. Neither project's presale materials disclosed that funds could be used to support other businesses or casino operations. ZKP, the alleged sister project, exhibited marketing similarities to BlockDAG and had an anonymous team, raising concerns about whether it was operated by the same group.","heading":"ZKP Fund Commingling and Casino Marketing Diversion","severity":"critical","sources":[{"credibility":2,"name":"BlockDAG and Gurhan Kiziloz Under More Fire: ZachXBT Finds $25M Presale Commingled — CCN","type":"news_article","url":"https://www.ccn.com/news/crypto/blockdag-gurhan-kiziloz-under-fire-zachxbt-25m-presale/"},{"credibility":2,"name":"BlockDAG and ZKP funds allegedly rerouted into marketing, ZachXBT says — Crypto.news","type":"news_article","url":"https://crypto.news/blockdag-and-zkp-funds-allegedly-rerouted-into-marketing-zachxbt-says/"},{"credibility":2,"name":"ZachXBT Uncovers Misuse of $25M in BlockDAG and ZKP Funds — Phemex News","type":"news_article","url":"https://phemex.com/news/article/zachxbt-uncovers-misuse-of-25-million-in-blockdag-and-zkp-funds-83621"},{"credibility":2,"name":"Zero-Knowledge Proof Presale Review: Is the ZKP Token Legit or a Scam — The Holy Coins","type":"news_article","url":"https://theholycoins.com/news/zero-knowledge-proof-presale-review-is-the-zkp-token-legit-or-a-potential-scam"}]},{"content":"On March 19, 2025, the Financial Services Authority (FSA) of Seychelles issued an unauthorized activity warning against DAG SYSTEMS LTD. (operating www.blockdag.network), stating the company lacked authorization to issue the 'BLOCKDAG' coin, having failed to submit an application to register the coin offering under the Virtual Asset Service Providers Act, 2024. This constitutes a formal regulatory finding rather than an allegation. The FSA urged members of the public to exercise adequate research and evaluation before conducting transactions with the entity. BlockDAG's alleged co-founder Gurhan Kiziloz had a prior regulatory history: in November 2020, his fintech company Lanistar received a warning from the UK Financial Conduct Authority (FCA) for operating financial services without authorization, though that warning was later retracted. The UK Advertising Standards Authority (ASA) also ordered Lanistar to remove misleading advertising claims, and Lanistar ultimately entered court-ordered liquidation in September 2025.","heading":"Regulatory Actions","severity":"critical","sources":[{"credibility":1,"name":"Warning: Unauthorised Activity under the Virtual Asset Service Providers Act, 2024 — FSA Seychelles","type":"regulatory","url":"https://fsaseychelles.sc/media-corner/regulatory-updates/warning-unauthorised-activity-under-the-virtual-asset-service-providers-act-2024"},{"credibility":2,"name":"Inside BlockDAG's $442m crypto maze — DL News (Lanistar liquidation reference)","type":"news_article","url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"credibility":2,"name":"BlockDAG's $433M Presale in Crisis After ZachXBT Links Founder to Past Scams — CryptoNews","type":"news_article","url":"https://cryptonews.com/news/blockdags-433m-presale-in-crisis-after-zachxbt-links-founder-to-past-scams/"}]},{"content":"Gurhan Kiziloz, 38, a university dropout from London Metropolitan University, has an alleged pattern of involvement in failed or fraudulent ventures prior to BlockDAG. His fintech startup Lanistar (founded 2019) received an FCA consumer warning in November 2020, faced an ASA order to remove misleading advertising, accumulated allegations of mismanagement, unpaid wages, and fake reviews, and entered court-ordered liquidation in September 2025. Kiziloz was also linked to Big Eyes Coin, a meme token that raised over $40 million in 2023 before collapsing shortly after launch, with investors alleging misleading marketing and failure to deliver tokens. He has additionally been linked to other short-lived meme coins including Dogetti and Poorcoin. Kiziloz separately operates crypto-casino platforms including Spartans.com and Megaposta, which allegedly received marketing payments sourced from BlockDAG and ZKP presale funds without investor disclosure.","heading":"Alleged Co-Founder's Prior Conduct","severity":"high","sources":[{"credibility":2,"name":"Inside BlockDAG's $442m crypto maze — DL News","type":"news_article","url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"credibility":2,"name":"BlockDAG's $433M Presale in Crisis After ZachXBT Links Founder to Past Scams — Yahoo Finance / CryptoNews","type":"news_article","url":"https://finance.yahoo.com/news/blockdag-433m-presale-crisis-zachxbt-164159769.html"},{"credibility":2,"name":"BlockDAG Scam Alert: ZachXBT Investigates $300M Fund Reality — CoinGabbar","type":"news_article","url":"https://www.coingabbar.com/en/crypto-currency-news/blockdag-scam-alert-zachxbt-investigates-bdag-scandal-300m-fund"}]},{"content":"BlockDAG signed high-profile sports sponsorship agreements during its presale, which subsequently collapsed due to non-payment. In August 2024, BlockDAG signed a reported $10 million three-year deal with Borussia Dortmund described as the largest crypto-related partnership in German football history. On September 27, 2024, Borussia Dortmund issued a payment default notice showing 2,007,444 EUR owed; the club subsequently terminated the contract, though BlockDAG continued using Borussia Dortmund branding in its marketing. In August 2024, BlockDAG announced a sponsorship with Inter Milan as an 'official club blockchain partner.' Inter Milan issued a cease-and-desist in June 2025 for material breach, and an August 2025 letter demanded removal of 'official blockchain partner' claims. The BWT Alpine F1 Team had a $1.4 million payment overdue as of November 2025, with a December 3, 2025 deadline for contract termination. A DL News investigation reported that approximately 24 employees were owed over $140,000 for December 2025 work, as confirmed by Liza Van Den Berg, BlockDAG's former executive assistant and payroll manager. CEO Antony Turner confirmed with DL News that most salaries, miners, ambassador program participants, third-party service providers, and grant recipients had gone largely unpaid. Mining hardware commitments were also unfulfilled: of 2,550 X30 miners ($500 each) and 2,250 X100 miners ($1,600 each) ordered through Goldshell per an August 2025 agreement, only approximately 20 units had been shipped as of January 2026.","heading":"Breached Sponsorship Contracts and Unpaid Obligations","severity":"high","sources":[{"credibility":2,"name":"Inside BlockDAG's $442m crypto maze of missing miners, unpaid employees, and breached contracts — DL News","type":"news_article","url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"credibility":2,"name":"BlockDAG Crypto Partnership with Borussia Dortmund Confirmed Ended — The Holy Coins","type":"news_article","url":"https://theholycoins.com/news/blockdag-network-borussia-dortmund-confirms-partnership-termination-amid-investor-doubts"},{"credibility":2,"name":"Dortmund signs $10m three-year sponsorship deal with BlockDAG — Insider Sport","type":"news_article","url":"https://insidersport.com/2024/08/28/dortmund-signs-10m-three-year-sponsorship-deal-with-blockdag/"}]},{"content":"The Token Generation Event (TGE) for BDAG took place on approximately February 11, 2026, with exchange listings beginning on February 16, 2026, on MEXC, LBank, CoinStore, XT.com, and BitMart. Despite the presale's claimed listing target price of $0.05, BDAG initially traded between $0.09 and $0.11 at launch under low-liquidity conditions. The token reached an all-time high of approximately $0.4005 on March 29, 2026, before collapsing approximately 99.98% to an all-time low of approximately $0.00006105 by May 20, 2026. As of late May 2026, BDAG was trading at approximately $0.000068, representing catastrophic losses for retail investors who participated in the presale at prices that were marketed as representing 50x–100x upside. Additional exchange listings on Gate.io and BingX were confirmed delayed with no new dates announced. The precipitous decline occurred against a backdrop of ongoing regulatory warnings, investigative reporting, and widespread investor complaints.","heading":"Token Launch and Price Collapse","severity":"critical","sources":[{"credibility":2,"name":"BlockDAG Listing Date: Why BDAG Price Fell 99% After Launch? — CoinGabbar","type":"news_article","url":"https://www.coingabbar.com/en/crypto-currency-news/blockdag-listing-date-price-claims-final-phase-reality-check"},{"credibility":2,"name":"BlockDAG (BDAG) live price — CoinMarketCap","type":"on_chain","url":"https://coinmarketcap.com/currencies/blockdag/"},{"credibility":2,"name":"BlockDAG Launch Date: Confirmed Exchange Listings for March 4 Delayed — CryptoNews","type":"news_article","url":"https://cryptonews.com/cryptocurrency/blockdag-launch-date/"}]},{"content":"BlockDAG's Trustpilot profile carried a rating of approximately 2.8 out of 5, with nearly 60% of reviews negative. Common complaints included missing bonus tokens, inability to withdraw funds, oversold promises, and non-receipt of promised mining equipment. One investor reported that the project took back purchased coins citing overselling with no refund offered. A DL News investigation based on interviews with 13 BlockDAG investors and insiders, plus review of thousands of documents and internal messages, found that thousands of distinct wallet addresses participated in the presale with little to show for it. Named investors included Adam (an Australian restaurateur who invested $25,000), Will (a US investor who invested $3,000), and Reid Davis (a US Army veteran and community lead who invested $100,000 of friends' and family's money). Victims also reported false or undelivered exchange listings, with promises of listings on 20 exchanges reduced to five and then further delayed.","heading":"Investor Complaints and Community Sentiment","severity":"high","sources":[{"credibility":3,"name":"BlockDAG Reviews — Trustpilot","type":"community_report","url":"https://www.trustpilot.com/review/blockdag.network"},{"credibility":2,"name":"Inside BlockDAG's $442m crypto maze of missing miners, unpaid employees, and breached contracts — DL News","type":"news_article","url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"credibility":2,"name":"Is BlockDAG Legit or a Scam? 5 Major Red Flags — CryptoNews","type":"news_article","url":"https://cryptonews.com/cryptocurrency/is-blockdag-a-scam-or-legit/"}]},{"content":"BlockDAG's GitHub repository showed only moderate activity, inconsistent with typical layer-1 blockchain development timelines. Several code repositories were inactive for extended periods. The project's CTO, Jeremy Harkness, expressed concerns about the feasibility of the mainnet launch timeline during an AMA session. Despite over two years of fundraising, no mainnet was delivered. No confirmed on-chain trading activity matched the project's claimed exchange listing announcements prior to the February 2026 TGE. The project's technical documentation and audit coverage were limited: only vesting contracts were reviewed in independent audits, while the mainnet itself was not audited.","heading":"Technical and Developmental Concerns","severity":"medium","sources":[{"credibility":2,"name":"Inside BlockDAG's $442m crypto maze — DL News","type":"news_article","url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"credibility":2,"name":"Is BlockDAG Legit or a Scam? — CoinSpeaker","type":"news_article","url":"https://www.coinspeaker.com/guides/is-blockdag-legit-or-scam/"}]}],"sources_used":[{"credibility":2,"name":"Inside BlockDAG's $442m crypto maze of missing miners, unpaid employees, and breached contracts — DL News","type":"news_article","url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"credibility":1,"name":"Warning: Unauthorised Activity under the Virtual Asset Service Providers Act, 2024 — FSA Seychelles","type":"regulatory","url":"https://fsaseychelles.sc/media-corner/regulatory-updates/warning-unauthorised-activity-under-the-virtual-asset-service-providers-act-2024"},{"credibility":2,"name":"BlockDAG Under Fire as Investigator Alleges $300M Scam — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/blockdag-under-fire-as-investigator-alleges-300m-scam/"},{"credibility":2,"name":"BlockDAG and Gurhan Kiziloz Under More Fire: ZachXBT Finds $25M Presale Commingled — CCN","type":"news_article","url":"https://www.ccn.com/news/crypto/blockdag-gurhan-kiziloz-under-fire-zachxbt-25m-presale/"},{"credibility":2,"name":"BlockDAG and ZKP funds allegedly rerouted into marketing, ZachXBT says — Crypto.news","type":"news_article","url":"https://crypto.news/blockdag-and-zkp-funds-allegedly-rerouted-into-marketing-zachxbt-says/"},{"credibility":2,"name":"ZachXBT Uncovers Misuse of $25M in BlockDAG and ZKP Funds — Phemex News","type":"news_article","url":"https://phemex.com/news/article/zachxbt-uncovers-misuse-of-25-million-in-blockdag-and-zkp-funds-83621"},{"credibility":2,"name":"ZachXBT accusation rocks BlockDAG leadership, claims 'Value Era' narrative is cover-up — Cryptopolitan","type":"news_article","url":"https://www.cryptopolitan.com/zachxbt-accusation-rocks-blockdag/"},{"credibility":2,"name":"ZachXBT Slams BlockDAG's Project with Scam Allegations — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2025/10/29/zachxbt-slams-blockdags-project-with-scam-allegations/"},{"credibility":2,"name":"BlockDAG Network Allegations: ZachXBT Links BDAG Presale to Gurhan Kiziloz — The Holy Coins","type":"news_article","url":"https://theholycoins.com/news/blockdag-network-linked-to-hidden-co-founder-and-missing-presale-funds-according-to-zachxbt"},{"credibility":2,"name":"BlockDAG's $433M Presale in Crisis After ZachXBT Links Founder to Past Scams — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/blockdag-433m-presale-crisis-zachxbt-164159769.html"},{"credibility":2,"name":"BlockDAG Crypto Partnership with Borussia Dortmund Confirmed Ended — The Holy Coins","type":"news_article","url":"https://theholycoins.com/news/blockdag-network-borussia-dortmund-confirms-partnership-termination-amid-investor-doubts"},{"credibility":2,"name":"Dortmund signs $10m three-year sponsorship deal with BlockDAG — Insider Sport","type":"news_article","url":"https://insidersport.com/2024/08/28/dortmund-signs-10m-three-year-sponsorship-deal-with-blockdag/"},{"credibility":2,"name":"BlockDAG (BDAG) live price and market cap — CoinMarketCap","type":"on_chain","url":"https://coinmarketcap.com/currencies/blockdag/"},{"credibility":2,"name":"BlockDAG Listing Date: Why BDAG Price Fell 99% After Launch? — CoinGabbar","type":"news_article","url":"https://www.coingabbar.com/en/crypto-currency-news/blockdag-listing-date-price-claims-final-phase-reality-check"},{"credibility":3,"name":"BlockDAG (BDAG) AfterSale Pricing Contradicts Presale Terms — OpenPR","type":"news_article","url":"https://www.openpr.com/news/4434342/blockdag-bdag-aftersale-pricing-contradicts-presale-terms-or"},{"credibility":2,"name":"Is BlockDAG Legit or a Scam? 5 Major Red Flags — CryptoNews","type":"news_article","url":"https://cryptonews.com/cryptocurrency/is-blockdag-a-scam-or-legit/"},{"credibility":3,"name":"BlockDAG Reviews — Trustpilot","type":"community_report","url":"https://www.trustpilot.com/review/blockdag.network"},{"credibility":2,"name":"Zero-Knowledge Proof Presale Review: Is the ZKP Token Legit or a Scam — The Holy Coins","type":"news_article","url":"https://theholycoins.com/news/zero-knowledge-proof-presale-review-is-the-zkp-token-legit-or-a-potential-scam"},{"credibility":2,"name":"ZachXBT Questions Where BlockDAG's $350M Really Went — CryptoNews.net","type":"news_article","url":"https://cryptonews.net/news/altcoins/32883435/"},{"credibility":2,"name":"BlockDAG Scam Alert: ZachXBT Investigates $300M Fund Reality — CoinGabbar","type":"news_article","url":"https://www.coingabbar.com/en/crypto-currency-news/blockdag-scam-alert-zachxbt-investigates-bdag-scandal-300m-fund"},{"credibility":2,"name":"BlockDAG Launch Date: Confirmed Exchange Listings for March 4 Delayed — CryptoNews","type":"news_article","url":"https://cryptonews.com/cryptocurrency/blockdag-launch-date/"}],"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":[{"date":"2019-01-01","event":"Gurhan Kiziloz founds Lanistar, a UK-based fintech debit card startup.","source":"DL News","source_url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"date":"2020-11-01","event":"UK Financial Conduct Authority (FCA) issues consumer warning against Lanistar for operating financial services without authorization. Warning is later retracted.","source":"CryptoNews","source_url":"https://cryptonews.com/news/blockdags-433m-presale-in-crisis-after-zachxbt-links-founder-to-past-scams/"},{"date":"2023-01-01","event":"Gurhan Kiziloz linked to Big Eyes Coin, a meme token that raised over $40 million before collapsing after launch.","source":"Yahoo Finance / CryptoNews","source_url":"https://finance.yahoo.com/news/blockdag-433m-presale-crisis-zachxbt-164159769.html"},{"date":"2023-12-01","event":"BlockDAG Network presale launches.","source":"DL News","source_url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"date":"2024-07-01","event":"Antony Turner publicly introduced as BlockDAG's founder and CEO.","source":"DL News","source_url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"date":"2024-08-28","event":"BlockDAG announces a reported $10 million three-year sponsorship deal with Borussia Dortmund, described as the largest crypto deal in German football history.","source":"Insider Sport","source_url":"https://insidersport.com/2024/08/28/dortmund-signs-10m-three-year-sponsorship-deal-with-blockdag/"},{"date":"2024-08-30","event":"BlockDAG announces sponsorship deal with Inter Milan as 'official club blockchain partner'.","source":"Insider Sport","source_url":"https://insidersport.com/2024/08/30/inter-milan-latest-sports-team-to-strike-blockchain-sponsorship-deal-with-blockdag/"},{"date":"2024-09-27","event":"Borussia Dortmund issues a payment default notice to BlockDAG for 2,007,444 EUR owed.","source":"DL News","source_url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"date":"2025-03-19","event":"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.","source":"FSA Seychelles (official regulatory notice)","source_url":"https://fsaseychelles.sc/media-corner/regulatory-updates/warning-unauthorised-activity-under-the-virtual-asset-service-providers-act-2024"},{"date":"2025-06-01","event":"Inter Milan issues cease-and-desist to BlockDAG for material breach of sponsorship contract.","source":"DL News","source_url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"date":"2025-08-01","event":"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.","source":"DL News","source_url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"date":"2025-09-01","event":"Kiziloz's Lanistar fintech company enters court-ordered liquidation.","source":"DL News","source_url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"date":"2025-10-29","event":"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.","source":"CryptoTimes / Cryptopolitan","source_url":"https://www.cryptotimes.io/2025/10/29/zachxbt-slams-blockdags-project-with-scam-allegations/"},{"date":"2025-11-01","event":"BWT Alpine F1 Team notifies BlockDAG of $1.4 million overdue sponsorship payment; December 3, 2025 deadline for contract termination issued.","source":"DL News","source_url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"date":"2025-12-29","event":"During a public AMA with BlockDAG investors, Gurhan Kiziloz acknowledges his role, confirming he funded and initiated BlockDAG before appointing Antony Turner as CEO.","source":"DL News","source_url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"date":"2026-01-14","event":"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.","source":"DL News","source_url":"https://www.dlnews.com/articles/defi/inside-crypto-project-blockdag-442-million-usd-maze/"},{"date":"2026-02-02","event":"BlockDAG presale officially ends.","source":"Medium / BlockDAG Network","source_url":"https://medium.com/@BlockDAGNetwork1/the-presale-is-over-now-the-real-work-begins-69754e42e6fa"},{"date":"2026-02-04","event":"BlockDAG introduces an 'AfterSale' phase with token pricing inconsistent with presale terms and no documented mechanics or allocation size.","source":"OpenPR","source_url":"https://www.openpr.com/news/4434342/blockdag-bdag-aftersale-pricing-contradicts-presale-terms-or"},{"date":"2026-02-11","event":"Token Generation Event (TGE) for BDAG takes place.","source":"Bitrue","source_url":"https://www.bitrue.com/blog/blockdag-listing-february-16-bdag-price-expectations"},{"date":"2026-02-16","event":"BDAG begins trading on MEXC, LBank, CoinStore, XT.com, and BitMart.","source":"Bitrue","source_url":"https://www.bitrue.com/blog/blockdag-listing-february-16-bdag-price-expectations"},{"date":"2026-03-29","event":"BDAG reaches its all-time high of approximately $0.4005.","source":"CoinGabbar","source_url":"https://www.coingabbar.com/en/crypto-currency-news/blockdag-listing-date-price-claims-final-phase-reality-check"},{"date":"2026-05-20","event":"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.","source":"CoinMarketCap / CoinGabbar","source_url":"https://coinmarketcap.com/currencies/blockdag/"}]},"v":1}