ZachXBT Investigation Alleges $25M Fund Commingling Between BlockDAG, ZKP, and Spartans

Blockchain investigator ZachXBT accused BlockDAG, ZKP, and Spartans of commingling at least $25 million between presale funds and wallets allegedly used for influencer payments tied to the Spartans gambling platform.

The projects were linked by ZachXBT to entrepreneur Gurhan Kiziloz through a broader investigation involving alleged undisclosed fund flows, cross-platform wallet activity, and influencer marketing payments.

On May 20, 2026, ZachXBT published a Telegram investigation claiming his on-chain tracing connected wallets linked to BlockDAG and ZKP presales to Spartans payment infrastructure through a series of consolidation wallets, exchange transfers, and cross-chain bridge transactions. He alleged the funds were later used to pay KOLs and streamers promoting Spartans.

Later that same day, ZachXBT brought the allegations directly to Spartans on X, posting replies beneath a promotional giveaway campaign featuring luxury supercars. The investigator also accused Kiziloz-linked projects of using “deceptive marketing” while retail investor complaints continue to increase across social media.

ZachXBT Telegram Investigation Traced Alleged Fund Flows Between BlockDAG, ZKP, and Spartans

Earlier on May 20, ZachXBT shared a detailed investigation in his Telegram channel outlining what he described as at least $25 million in commingling between BlockDAG and ZKP presale funds and Spartans-linked wallets.

According to ZachXBT, funds from BlockDAG and ZKP presale wallets were consolidated, bridged between Ethereum and Tron, routed through centralized exchanges including HTX and BTSE, and later connected to Spartans hot wallets and KOL payment addresses.

The Telegram post included a forensic transaction map labeling alleged flows between presale wallets, consolidation wallets, exchange deposits and withdrawals, and Spartans-associated addresses.

ZachXBT said he had not found disclosures in BlockDAG Network or ZKP presale materials informing investors that funds could be used to promote a separate gambling-related venture.

- ZachXBT wrote in the Telegram post.

He also warned users against engaging with the projects, writing that the findings represented “another red flag” on top of issues he had previously outlined regarding BlockDAG, ZKP, and Spartans.

The investigator attached links to previous reporting and investigative material, including a DL News investigation into BlockDAG’s fundraising operations, a Business Insider report about Lanistar, his prior X post from April 2026 describing the team behind BlockDAG, and the Telegram investigation thread itself.

ZachXBT Publicly Confronts Spartans on X

Later the same day, ZachXBT replied directly to a Spartans promotional post on X that advertised a Mansory Koenigsegg Jesko giveaway tied to deposits on Spartans.com.

- ZachXBT replied.

The allegations were made under a Spartans post published on April 21 promoting what the company described as the “world’s only Spartans Edition Mansory Koenigsegg Jesko.” The campaign encouraged users to register and deposit funds on Spartans.com in exchange for giveaway tickets. A promotional video attached to the post featured luxury supercars and high-end branding.

After crypto investigator Specter questioned whether Spartans would respond publicly, ZachXBT replied: “They’re busy spending multiple 8 figs on watches, cars, etc.”

That response included images showing luxury watches worth millions of dollars, sports cars, yachts, and lifestyle content associated with Spartans-linked branding.

Specter later replied that Spartans blocked ZachXBT on X instead of addressing the allegations publicly.

“So @Spartanscom couldn’t provide an explanation, yet decided to block Zachxbt simply for asking questions,” SpecterAnalyst wrote. “That says a lot about the kind of operation you’re running.”

ZachXBT replied shortly afterward with a single-word response: “Suspicious,” and attached a screenshot from X saying he was blocked by @Spartanscom.

ZachXBT Previously Accused BlockDAG and Gurhan Kiziloz of Misleading Investors

The May 20 investigation follows months of public accusations by ZachXBT against BlockDAG Network and projects linked to entrepreneur Gurhan Kiziloz.

In August 2025, ZachXBT publicly replied to LBank’s BDAG listing announcement and described BlockDAG as a “fake project” and “investment scam.” He accused the project of extending its presale for more than 1.5 years while continuing to raise funds from retail investors.

At the time, ZachXBT also suggested LBank’s listing announcement may have been an undisclosed paid promotion. He shared screenshots allegedly showing the BlockDAG team offering him payment in USDT for a promotional post on X.

In October 2025, ZachXBT escalated the allegations further by claiming Gurhan Kiziloz was secretly operating as a hidden co-founder behind BlockDAG while public-facing executives acted as “figureheads.”

He also determined that presale funds were being off-ramped through Middle Eastern OTC brokers during the ongoing token sale.

The allegations were made in response to BlockDAG’s “Value Era” marketing campaign, which promoted a final presale phase and discounted token pricing before launch.

In April 2026, ZachXBT again linked Spartans, Gurhan Kiziloz, and BlockDAG in replies on X, claiming the project had raised more than $300 million while relying on misleading partnerships, unrealistic return marketing, and aggressive social media advertising targeting retail investors.

He also claimed that between 10 and 15 individuals had contacted him directly, alleging financial losses connected to BlockDAG-related investments.