BlockDAG's $433M Presale Under Fire: ZachXBT Accuses Founder of Hidden Scam Ties

The $433 million presale of BlockDAG, a blockchain project touting DAG and PoW fusion for high-speed transactions, is embroiled in controversy after on-chain investigator ZachXBT alleged the founder is masking a history of scams.

The Allegations: A Figurehead CEO and Fund Diversion

ZachXBT’s exposé claims Antony Turner is a paid front for Gurhan Kiziloz, a British entrepreneur with past links to failed fintech ventures. “The grifter Gurhan Kiziloz is the real co-founder secretly behind BlockDAG, paying people like Antony Turner to be the face while transferring millions in presale funds from unsophisticated retail investors via Middle Eastern OTC brokers,” ZachXBT tweeted. The accusation surfaced amid BlockDAG’s “Value Era” launch, where Turner promised scarcity and fairness, urging final purchases before tokenomics reveal.

ZachXBT’s probe highlights on-chain transfers below nine-digit claims, suggesting inflated milestones. Reddit users echo: “Antony Turner has been accused of multiple scams over the years,” with calls for doxxing and audits.

Project Background and Presale Buzz

BlockDAG, operated by DAG Systems Ltd. in Seychelles, raised $433 million since 2024, selling 25 billion tokens at $0.0276, surpassing Filecoin’s $233 million. It promises 2,000-15,000 TPS for congestion-free DeFi, with 20,000 X-Series miners shipped. The presale, extended 1.5+ years, ends “soon,” but ZachXBT labels it a “fake project/investment scam,” citing fund diversions.

Community and Market Reaction

Sentiment turned bearish, with 70% negative X posts per LunarCrush, demanding refunds. LBank’s planned listing prompted ZachXBT’s warning, blocking him on BlockDAG’s X. Analysts question $1 post-mainnet targets, citing 99% drop from 2021 highs.

2025 Implications: Scam Warnings Resurface

This echoes 2024’s $10M+ losses from hype-driven rugs, underscoring DeFi’s need for audits amid $150 billion+ TVL. BlockDAG’s $50 million Leap Grant fate remains unclear, potentially stranding developers.

In summary, ZachXBT’s claims of a hidden founder and fund siphoning threaten BlockDAG’s $433M presale, highlighting scam risks in 2025’s volatile DeFi landscape.