Blockchain investigator ZachXBT has publicly accused BlockDAG Network of scamming retail investors out of more than $300 million through misleading promises of high returns. The allegations detail aggressive marketing tactics, undisclosed leadership, and a pattern of unsubstantiated exchange listing claims.
Blockchain investigator ZachXBT has accused BlockDAG Network of stealing over $300 million from retail investors. The claims involve scams promising unrealistic high gains, which were highlighted in response to a warning from YouTube investigator Coffeezilla.
Coffeezilla alerted followers about a promoter offering 5-10% monthly returns. “If you invested money with ERIC MCNEIL, be warned,” Coffeezilla wrote. ZachXBT responded by stating such low-effort scams are common.
He cited BlockDAG as an example, using high-pressure sales tactics. The project’s social media posts promoted extreme ROI with language like “$0.0000061 LIMITED SUPPLY, 95x POTENTIAL!” Another message urged urgency, stating “LAST 72 HOURS LOWEST ENTRY EVER.”
ZachXBT has investigated the project for months, with earlier findings suggesting a pattern. The scandal involves aggressive presale fundraising and misleading marketing claims dating back over two years.
The presale repeatedly increased fundraising targets while promising 50x, 85x, and 100x returns. It also announced listings on several exchanges and used sponsored articles to appear legitimate.
However, investigators reported no actual trading activity to match these listing claims. Several victims testified they could not withdraw funds or receive promised tokens.
The leadership structure also came under scrutiny. Publicly shown team members did not match the actual working staff, as mentioned by ZachXBT.
Investigators linked backend operations to a hidden party identified as Gurhan Kiziloz. ZachXBT discovered the team has held the token presale for over two years and off-ramped funds via Middle Eastern OTCs.
He stated the alleged co-founder has spent lavishly on luxury items using scam funds. Kiziloz initially denied involvement but was later implicated through leaked documents and wallet details.
