An independent overview of the project, its founders, what it claims to be and what the data shows.
BlockDAG Network presents itself as a next-generation Layer 1 blockchain combining Proof of Work (PoW) consensus with a Directed Acyclic Graph (DAG) structure. The project claims this architecture allows for 10,000 to 15,000 transactions per second with near-zero fees.
The project launched a presale in March 2024 and marketed three physical mining devices (X10, X30, X100), a mobile mining app called X1, and a growing ecosystem including a casino, Super App, DeFi platform, staking, NFT marketplace and more.
BlockDAG's whitepaper was later found to contain text, concepts and formulas nearly identical to those of Kaspa — with some sections appearing to be direct screenshots. Kaspa took 8 years from inception to launch. BlockDAG claimed to replicate the technology in 11 months.
Kiziloz was the hidden founder of BlockDAG for over two years. His identity was actively censored in the official Telegram group until December 2025 when former CEO Antony Turner was fired and Kiziloz was publicly revealed.
His previous company Lanistar, a UK fintech startup, was liquidated after the FCA issued a consumer warning against it in 2020 for unauthorized financial activity. Kiziloz has also been linked to Big Eyes, Dogetti and Poorcoin — all of which collapsed shortly after launch. Despite Turner holding the CEO title, Kiziloz reportedly maintained effective control over BlockDAG's finances throughout the presale.
Turner was the public face of BlockDAG throughout the presale period. He was fired in December 2025 following the Alpine Racing payment default and the DL News investigation. He was later revealed to have been a figurehead while Kiziloz controlled the finances.
Van Den Bergh was previously the Chief Marketing Officer of BlockDAG. He was promoted to CEO after Turner's departure. Community members have criticized his AMAs for failing to address core issues such as missing miners, broken staking and delayed exchange listings.
The BlockDAG presale launched in March 2024 and ran for over 450 days across dozens of rounds. The project publicly claimed to have raised $442 million. The CEO later stated only approximately $200 million was actually raised. Blockchain investigator ZachXBT found less than $100 million on-chain.
At an internal investor meeting on January 6, 2026, BlockDAG disclosed only $32 million was planned for post-launch liquidity. Former payroll manager Liza Van Den Berg stated internal fundraising figures were $30 to $60 million. She also alleged the presale was oversold by over 100%.
At least $110 million in presale funds was sent to accounts on Binance and BTSE via Middle Eastern OTC brokers. Leadership repeatedly declined to disclose where the funds are held.
BlockDAG signed major sports sponsorship deals including Borussia Dortmund, Inter Milan and Alpine Racing F1. All three sponsors filed breach of contract or payment default notices after BlockDAG failed to pay:
BlockDAG made dozens of specific, time-bound promises throughout the presale. We have tracked 59 of them. Here is a summary of the most significant ones: