ZachXBT: BlockDAG Has Raised at Least $350 Million, Recently Suspected of Shifting to Casino Operations

Odaily News ZachXBT stated that choosing to gamble on Spartans itself is an IQ test, questioning that the operators behind Spartans have long-term plans to harvest retail investors. ZachXBT pointed out that Gurhan Kiziloz, a figure associated with Spartans, previously operated BlockDAG Network, which failed to launch its mainnet or miner products for years yet still promoted its presale with claims of 300x returns, raising at least $350 million from inexperienced retail investors. ZachXBT further indicated that BlockDAG has recently shifted its focus to casino operations and suspects that the related casino platform may be used to legitimize BlockDAG's capital sources, including circulating funds by paying high fees to employees and KOLs. Previously, multiple community members and content creators also publicly questioned Spartans' marketing model and operational transparency, warning users of potential rug pull risks.