Svmuu News On-chain investigator ZachXBT posted on X, alleging that Spartans co-founder Gurhan Kiziloz may be the mastermind behind Blockdag Network. The project reportedly raised over $300 million from retail investors through social media advertisements and has been accused of making unrealistic profit promises and engaging in misleading partnership promotions.
ZachXBT stated that Blockdag's token sale has been ongoing for over two years, while the pre-sale funds have been gradually liquidated through Middle Eastern over-the-counter (OTC) channels. Gurhan Kiziloz is accused of making high-value luxury purchases during this period, including luxury cars, real estate, and other high-end goods. Public information about related individuals contains a significant amount of paid PR content. ZachXBT also mentioned that as early as October 2025, he had exposed Blockdag's management as "nominal leaders," with the actual controller being Gurhan Kiziloz, who later publicly admitted his involvement.
ZachXBT indicated that he has received feedback from at least 10 to 15 victims reporting financial losses and warned the market to maintain high vigilance regarding projects associated with Gurhan Kiziloz.