In the ever-evolving world of cryptocurrency, where fortunes can be made overnight and trust is often a scarce resource, a new scandal is unfolding that raises significant questions about the integrity of a much-lauded blockchain project: BlockDAG. The ambitious venture, which recently wrapped up an astonishing $433 million presale, is now under intense scrutiny following allegations made by renowned on-chain investigator ZachXBT. He claims that the face of the project, who has been positioned as CEO, may not be who he seems, casting a shadow over the legitimacy of BlockDAG and its promised innovations.
The situation escalated when BlockDAG’s official account on X (formerly Twitter) shared an electrifying announcement from their so-called CEO, Antony Turner. The message heralded the dawn of what they termed “The VALUE ERA” — an intriguing phase in their development plan that promises not just scarcity and fairness but also a touch of high-stakes drama. Turner called on investors to finalize their purchases, hinting that monumental changes were just around the corner.
🚨 The VALUE ERA Starts Tomorrow 🚨 A Message From Our CEO, Antony Turner 🚀‼️ A New Era is Upon Us ‼️We’ve conquered the Power Era. We’ve dominated the Dominance Era. Now we enter the most important phase yet: 💎 The VALUE ERA 💎 Tomorrow, BlockDAG makes 3 MAJOR… pic.twitter.com/shJCGERfQZ— BlockDAG Network (@blockdagnetwork) October 28, 2025
However, the excitement was short-lived. ZachXBT swiftly contested this narrative, alleging that Turner is nothing more than a figurehead for Gurhan Kiziloz — a figure previously entangled in crypto controversies. The revelation that Kiziloz might be pulling the strings behind the scenes provoked a wave of skepticism among investors. “Stop your lies,” ZachXBT urged. He further accused Kiziloz of perpetuating a facade while allegedly siphoning off millions from presale investors through opaque channels.
Stop your lies the grifter Gurhan Kiziloz is the real co-founder secretly behind Blockdag who pays people like Antony Turner to be the face of it while transferring away millions in presale funds from unsophisticated retail investors via Middle Eastern OTC brokers. pic.twitter.com/0HQal8xuX6— ZachXBT (@zachxbt) October 29, 2025
ZachXBT’s accusations come with claims of evidence — including documents from offshore entities — and even an alleged banning of Kiziloz’s name within BlockDAG’s Telegram group, where any mention supposedly triggers an automatic censorship. This type of drastic reaction only fuels suspicion about the project’s transparency and governance.
>Offshore entity documents > ‘Gurhan Kiziloz’ is a banned word in the Blockdag Telegram group and it gets immediately deleted/restricted— ZachXBT (@zachxbt) October 29, 2025
As the uncertainty grows, so do the questions surrounding BlockDAG’s operational integrity. The project’s original timeline boasted a sleek and efficient presale concluding in June, yet delays have led to a prolonged presale period. What initially seemed like a successful fundraising effort now bears the hallmarks of a potentially high-risk gamble for unsuspecting investors.
🚨 Last Chance! BDAG Launching 28th of March! 🚨Exclusive access, massive opportunities, and a 400% boost!🚀⏰Time is running out! The highly anticipated BDAG Test Net Final launch is happening on March 28th along side our Keynote 3, and this is your final opportunity to be… pic.twitter.com/m5biwxA7JH— BlockDAG Network (@blockdagnetwork) February 27, 2025
Despite touting an impressive $430 million raised, the absence of a mainnet launch or confirmed exchange listings has led to growing unease among potential investors. Misleading marketing practices have surfaced, with promises that appear increasingly empty. Notably, a marketing campaign in July heralded the presale’s end on August 11 at enticing token prices, only for the presale to persist, presumably at lower prices, raising the alarm that this could be a strategic attempt to maintain momentum while avoiding public scrutiny.
BlockDAG claims to operate under DAG Systems Ltd., registered in Seychelles, with a team that includes Turner, CTO Jeremy Harkness, and security expert Dr. Youssef Khaoulaj. While the website promotes audits from firms like Halborn and CertiK, reports indicate those assessments focused narrowly on vesting contracts rather than comprehensive evaluations of the mainnet infrastructure.
Technical ambitions are lofty, with proposed capabilities of 10,000 transactions per second accompanied by an EVM-compatible launchpad for decentralized applications. Disturbingly, the token allocation appears skewed, designating a shocking 50% for miners while only 1% is promised for the team itself. Promises of a “road to a Binance listing” remain unconfirmed, stoking fears of delayed or broken commitments.
General sentiment from investors appears to be shifting, with about 60% of Trustpilot reviews trending negative. Complaints have surfaced regarding repeated launch delays, inconsistent communication, and an alarming lack of verifiable progress reports. These issues lead many to speculate whether BlockDAG is veering closer to a high-yield investment scheme rather than maintaining its stance as a credible blockchain initiative.
The shadow of Gurhan Kiziloz inevitably complicates the narrative. With a tumultuous history in fintech, his previous venture (the startup Lanistar) faced scrutiny from the UK Financial Conduct Authority (FCA) for regulatory breaches. Although some of these warnings have been lifted, a trail of allegations regarding mismanagement and misconduct continues to haunt him. Kiziloz was also involved with the controversial Big Eyes Coin, which raised a massive sum only to crumble amidst investor backlash for lack of transparency and delivery.
As BlockDAG pushes forward with its “Value Era” marketing campaign, aiming to redefine its role in the cryptocurrency landscape, the revelations from ZachXBT loom large. Will the project stand resilient against the tides of scandal, or will it fall prey to the same pitfalls that have ensnared its controversial co-founder? The coming weeks will be crucial in determining not just the future of BlockDAG, but also the trust and security of those invested in its promises.
For crypto enthusiasts and investors, this unfolding drama poses a poignant reminder of the risks in the highly speculative world of digital currencies. Stay informed and vigilant.