ZachXBT Alerts Spartans of Risk: Founder's BlockDAG Project Suspected to Have Pivoted to Casino Business

BlockBeats News, May 19th, on-chain detective ZachXBT issued a warning, stating that "Choosing to gamble on Spartans is, in itself, an IQ test," and questioning the long-term rug-pulling behavior of the team behind Spartans.

ZachXBT pointed out that Gurhan Kiziloz, a key figure in Spartans, previously ran the BlockDAG Network, which had not launched its mainnet or mining products for years. Despite this, they promoted a presale with a "300x return" and managed to raise at least $3.5 billion from inexperienced retail investors.

He further mentioned that BlockDAG has recently shifted to a gambling business model, raising suspicions that the gambling platform might be used for "legitimizing the source of BlockDAG funds," including routing funds through high fees paid to employees and KOLs.

Prior to this, several community members and content creators had publicly questioned Spartans' marketing tactics and operational transparency, warning users of potential "rug pull" risks.