On-chain investigator ZachXBT has revealed that at least $25 million in presale funds related to the BlockDAG network and ZKP appears to have been mixed and redirected towards influencer promotions and gambling-related marketing activities associated with Gurhan Kiziloz.
In his post, he mentioned that on-chain tracking shows at least $25 million from these two presales being used interchangeably across multiple wallets, subsequently bridged, sent to exchanges, and further directed to promotional payment addresses linked to Spartans and related entities.
Fund Flow Under Scrutiny
Notably, the emerging allegations suggest that while ZKP is presented as independent in financing language, it is not so in financial practice. ZachXBT pointed out that the presale materials for BlockDAG and ZKP did not disclose that these funds could be used to support other businesses, and he believes the behavior of the wallets is strong evidence of this.
Spartans Warn Investors
The core issue is quite clear: if separate presales are marketed as independent opportunities, but the funds are merged and used to pay external promoters for a gambling ecosystem, this is clearly not prudent fund management. Such behavior makes every “community-driven” presale appear as a tool for transferring funds from retail wallets to private marketing machines.