Crypto researcher ZachXBT warned users about the projects BlockDAG, ZKP and Spartans. According to him, it was possible to track the mixing of funds of about $25 million between structures associated with them.
ZachXBT said that the new investigation is a continuation of his earlier claims against Gurkhan Kiziloz.
After analyzing on-chain data, the researcher concluded that at least $25 million of the funds raised during presales were moved between two investment schemes he links to Kiziloz.
In addition, ZachXBT claims that part of this money was used to pay KOL streamers and promote the crypto casino Spartans, which is also linked to this business.
No Disclosure of Fund Movements Found in BlockDAG and ZKP Presale Materials
ZachXBT also noted that in the original presale materials for BlockDAG Network and ZKP he did not see any mention that the collected funds could be used to promote other projects or businesses.
According to him, investors were not initially informed that part of the funds could be diverted to outside purposes.
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The researcher added that complaints from retail investors related to this story continue to appear on social media.
ZachXBT believes that the lack of such disclosures only raises more questions about the projects and is yet another red flag in light of his previous claims about this scheme.
ZachXBT also showed a scheme of fund movements that he compiled during the investigation. According to him, the chart demonstrates the merging of presale wallets for BlockDAG and ZKP, as well as transfers between Ethereum and Tron through deposits and withdrawals on centralized exchanges.
The scheme also features a hot wallet for Spartans and addresses through which, it is claimed, payments to KOL influencers were made.
Back on April 9, ZachXBT specifically warned users to stay away from the crypto casino Spartans Bet.
At that time, he wrote that the site offered unrealistically high amounts to streamers, influencers, and players who were being recruited to promote the project.
According to the researcher, the same Gurkhan Kiziloz is behind Spartans Bet.
Previously, ZachXBT had already linked Kiziloz to the BlockDAG Network project, which he called a dubious crypto project.
The researcher also claims that BlockDAG was able to attract more than $300 million from unprepared retail investors through aggressive social media advertising.
He also raised separate concerns about promises of high returns and claims of partnerships, which he considers misleading.
Spartans Blocked ZachXBT After Questions About Fund Movements
ZachXBT also said that the Spartans team almost immediately blocked him on X and hid replies under their posts.
According to the researcher, this happened after he publicly asked them to explain the origin of about $25 million that he claims were moved between the presales of BlockDAG, ZKP and the payment addresses for KOL influencers of Spartans.
ZachXBT also stated that projects associated with Gurkhan Kiziloz continue to raise more questions due to aggressive marketing and a growing number of complaints from retail investors.
According to him, more than ten people have already written to him directly or tagged him on social media, claiming they lost money in BlockDAG Network.
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Some investors complained that the product never started working properly, even though the token presale has been ongoing for more than two years.
ZachXBT also noted that if you search for information about Kiziloz online, most materials look like paid PR publications.
The researcher directly stated that he would personally stay away from any projects associated with this business.
In Spartans they responded with irony. On May 20, the project thanked ZachXBT for free advertising and said it was ready to pay him 30% of the income from the referral code of users who register on the platform.
Separately, ZachXBT claims that Kiziloz spends large sums on expensive cars, real estate, watches, giveaways, and other extravagant expenses.
According to the researcher, back in October 2025 he considered the management of BlockDAG to be rather public faces of the project, but later concluded that Kiziloz was a hidden co-founder of the platform.
Previously, ZachXBT also stated that through intermediaries on the OTC market in the Middle East, millions of dollars raised from unprepared retail investors could have been withdrawn from the BlockDAG presale.
