Blockchain investigator ZachXBT has revealed that at least $25 million in presale funds from BlockDAG Network and ZKP, linked to Gurhan Kiziloz, were misused. The funds were allegedly diverted to pay influencers for Kiziloz's casino, Spartans com. ZachXBT noted that there was no disclosure in the original presale materials about using funds for promoting another business, and retail investors continue to voice complaints on social media.
ZachXBT's investigation showed that funds from BlockDAG and ZKP presale wallets were consolidated and transferred across chains from Ethereum to Tron, and through exchanges like HTX and BTSE, before reaching Spartans' hot wallet and influencer payment addresses.
ZachXBT Uncovers Misuse of $25 Million in BlockDAG and ZKP Funds
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