ZachXBT: BlockDAG and ZKP Presale Funds Allegedly Mixed and Transferred for Illegal Marketing Payments

Odaily Odaily reports that "on-chain detective" ZachXBT posted on his personal channel, stating that on-chain tracking analysis shows at least approximately $25 million in presale funds from two investment projects associated with Gurhan Kiziloz show signs of commingling and were transferred to pay KOLs and streamers for promotional activities related to his online gambling platform. ZachXBT stated that the fundraising materials for the related presale projects, BlockDAG Network and ZKP, did not disclose that the funds would be used to support other businesses. However, on-chain data reveals that funds were pooled across multiple addresses, transferred via cross-chain bridges to exchanges, and then directed to promotional payment addresses.

ZachXBT also named multiple related addresses, including the Spartans KOL payment address and BlockDAG / ZKP presale wallets, and advised investors to stay away from the BlockDAG, ZKP, and Spartans projects. Currently, retail investors continue to file complaints on social media regarding the use of these funds.