ZachXBT alleges BlockDAG & ZKP presale funds were routed to marketing
On-chain investigator ZachXBT says BlockDAG and ZKP presale funds—about $25 million in the latest claim—were mixed and rerouted to influencer promotions and gambling-related marketing, rather than being ring-fenced for investor expectations.
ZachXBT alleges BlockDAG and ZKP presale materials did not disclose funds could support other businesses. His tracing points to pooled wallets, cross-chain bridging, and exchange hops before reaching addresses tied to KOL/streamer payments connected with Spartans and related entities.
The warning builds on prior controversy around BlockDAG’s unusually long presale and opaque treasury handling. ZachXBT previously said the presale ran for more than two years and that funds were off-ramped via Middle Eastern OTC channels while Gurhan Kiziloz allegedly spent heavily elsewhere. Separate reports also raised concerns about Kiziloz’s control influence and claimed total retail inflows reached hundreds of millions.
Trading takeaway: if the BlockDAG and ZKP presale fund-mixing claims prove credible, the market may see heightened scrutiny risk, potential reputation damage, and investor confidence pressure—factors that can translate into bearish sentiment for affected token holders.
Bearish
This is an investor-protection and fund-transparency allegation. If traders believe the BlockDAG and ZKP presale funds were not ring-fenced and were instead routed to unrelated marketing-linked activities, expectations around token treasury safety can deteriorate. That typically raises near-term risk premium—headline-driven selling, avoidance by new buyers, and wider bid-ask spreads—especially when exchanges and cross-chain moves are part of the alleged flow. Longer term, sustained controversy can increase scrutiny and reduce confidence, keeping liquidity and demand under pressure for the affected projects’ tokens.