BlockDAG Accused of Misusing Presale Funds in Latest Scandal

Crypto investigator ZachXBT has again raised concerns about BlockDAG Network, alleging that at least $25 million in presale funds was misused to pay influencers promoting the company's casino venture.

The allegations come as the network faces growing scrutiny over its handling of funds and operational transparency. In a recent post on X, ZachXBT claimed that the funds were commingled from two separate crypto investment schemes and used to compensate 'KOL streamers' who promoted Spartans.com, a project linked to BlockDAG's alleged co-founder Gurhan Kiziloz.

ZachXBT also highlighted previous warnings about BlockDAG, including allegations of using social media ads to lure in inexperienced retail investors with unrealistic returns. He claimed that the token sale had been ongoing for more than two years and that presale funds were being off-ramped through over-the-counter crypto brokers in the Middle East.

BlockDAG has faced multiple investigations into its handling of funds, including a report by DL News that found extensive investor complaints and unpaid employees. The company's CEO, Nic Van Den Bergh, declined to comment on the latest allegations, saying only that public comments could create 'unnecessary noise during a critical execution phase.'