ZachXBT Warns of Spartans Risks; BlockDAG Founder Raised $350M, Shifted to Gambling Business

According to BlockBeats on May 19, ZachXBT warned that gambling on Spartans amounts to "an IQ test" and accused the platform of systematically extracting funds from retail investors. The on-chain detective alleged that Spartan-linked operator Gurhan Kiziloz had raised at least $350 million for BlockDAG Network through presales promoting "300x returns," despite the project failing to launch a mainnet or mining hardware for years.

ZachXBT further claimed BlockDAG has recently pivoted to gambling operations and suspected the platforms may be used to "legitimize BlockDAG fund sources" through payments to employees and KOLs. Community members and content creators have also publicly questioned Spartans' marketing practices and transparency.