Blockchain investigator ZachXBT has publicly accused BlockDAG Network (BDAG) of reportedly defrauding retail investors of over $300 million through dubious schemes promising unrealistic returns. This warning follows a post from YouTube investigator Coffeezilla, who alerted viewers to a promoter running a similar operation. In his post on X, ZachXBT noted that he had been blocked by the influencer after questioning the advertised monthly returns of 5-10%. Coffeezilla cautioned those who had invested with ERIC MCNEIL and another user expressed disbelief that so many would accept such rates. ZachXBT remarked that low-effort scams like these have become increasingly prevalent in the crypto landscape, citing BlockDAG’s aggressive tactics that misled ordinary investors with promises of high returns. Evidence included screenshots of the project’s social media claiming significant ROI potential with phrases like “LIMITED SUPPLY” and creating urgency with messages like “LAST 72 HOURS LOWEST ENTRY EVER.” This incident is not BlockDAG’s first controversy; ZachXBT’s extensive investigation has revealed a pattern of misleading marketing, presale fundraising tactics, and discrepancies in leadership. Past findings uncovered deceptive marketing claims and a lack of actual trading activity to support their exchange listings. Victims have reached out, sharing experiences of blocked withdrawals and unfulfilled token promises. Navigating the leadership structure raised further concerns, with investigations revealing discrepancies between the public team and actual staff, connecting backend operations to Gurhan Kiziloz, the alleged co-founder of Spartans, who was later tied to the ongoing presales and fund misappropriations. Kiziloz initially denied his involvement but was ultimately implicated through leaked information.
