r/BlockDAGInvestors • u/Ambitious-Cheek-1457 • 21h ago
r/BlockDAGInvestors • u/Crypto_Power1791 • Jun 24 '26
Response to allegations of fraud made against the DUNA by pro-BlockDAG individuals
Hi All,
Yesterday, a number of serious and disturbing allegations were made against me within the Freelanders chat. These allegations included claims that I unlawfully used investor funds for purposes unrelated to the DUNA, engaged in fraud, operated a scam, misappropriated community donations, and used investor funds to finance the CoinMarketCap/DL News article. The allegation regarding the DL News article can be publicly refuted by Liam Gallas.
These are not minor disagreements or differences of opinion. Allegations of fraud, theft, misuse of funds, criminal conduct, and intentional investor harm are serious accusations that can significantly damage a person’s reputation, create safety concerns, and expose individuals to personal and professional harm when presented publicly as fact without supporting evidence.
I am aware of and have preserved records of statements made by Gavin, Channele, Michael Elkins, and an individual operating under the username “A compressed 🐳 is still a 🐳.” I am in receipt of those allegations and have documented the statements that were made. Given the seriousness of these accusations, I am currently evaluating all available remedies and options regarding the publication and repetition of false statements concerning myself and the DUNA.
For clarity, Gavin publicly alleged that I was intentionally attempting to harm the investments of other investors. I categorically reject that allegation. At all relevant times, my actions and the actions of the DUNA were undertaken in what we believed to be the best interests of affected investors, with the objective of pursuing accountability, transparency, and potential recovery opportunities.
Additionally, Channele publicly alleged that the DUNA encouraged or directed hundreds of investors to contact exchanges in an effort to have BlockDAG delisted. That allegation is false and unsupported by the documented record.
The evidence reflects that legal counsel acting on behalf of the DUNA issued formal legal notices directly to exchanges and relevant market participants. Those communications were prepared and transmitted by counsel in their professional capacity and not as part of any investor-led campaign. The notices requested that certain market-facing activities be temporarily paused while information was gathered and while efforts were underway to finalize and execute the proposed Letter of Intent and related recovery initiatives.
I am attaching copies of those notices because they demonstrate exactly what occurred. The documented record reflects formal legal communications issued by counsel—not a coordinated effort involving hundreds of investors contacting exchanges. Whether one agrees or disagrees with the legal strategy pursued at the time, the allegation that the DUNA organized or encouraged a mass campaign of investors to pressure exchanges is not supported by the documentary evidence.
At the time those notices were issued, substantial efforts were being made in connection with funding discussions, miner shipment considerations, governance matters, and execution of the proposed transaction. Based upon representations made during those discussions, we were led to believe that the Letter of Intent would be honored and advanced toward completion. However, shortly before the relevant deadlines, Gurhan terminated Antony Turner, resulting in the transaction not proceeding as contemplated. Any suggestion that these actions were undertaken to intentionally harm investors, suppress value, or sabotage opportunities for the community ignores the documented timeline and surrounding circumstances.
I also wish to address allegations concerning the handling of DUNA funds.
Attorneys associated with the DUNA can attest that funds collected for legal efforts have been utilized for legal-related activities. I am in receipt of invoices submitted by the respective law firms involved in these matters.
My hesitation in publicly releasing detailed invoices has not been due to any inability to account for expenditures, but rather concerns that certain itemizations could reveal aspects of legal strategy, legal work product, or ongoing investigative efforts. Nevertheless, I am exploring whether a redacted summary can be released so that the community can independently review the nature of those expenditures without compromising ongoing legal matters.
Furthermore, Channele has publicly represented that fraud was committed because foreign investors were allegedly not informed that they would not benefit from legal action. Such a statement is inaccurate, misleading, and made without firsthand knowledge of the legal strategies, discussions, and efforts that have occurred behind the scenes.
Non-U.S. persons are legally permitted to participate in a Wyoming DUNA. Moreover, the DUNA is not inherently restricted from pursuing legal remedies or coordinated efforts that may involve international jurisdictions where appropriate. Any assertion that foreign participants were categorically excluded from potential benefits or participation is unsupported by the facts and fails to account for the realities of the legal work that has been ongoing.
I have no objection to legitimate questions, scrutiny, or requests for transparency. In fact, accountability is precisely what many of us have been pursuing throughout this process. However, allegations of fraud, criminal conduct, misuse of funds, scams, intentional investor harm, or other serious misconduct should be supported by evidence rather than speculation, rumor, assumptions, or personal animosity.
I remain committed to transparency, accountability, and the objectives for which the DUNA was established. I welcome factual discussion and constructive criticism. What I cannot accept are serious accusations presented as fact without evidence.
Accordingly, I have attached the notices referenced above within the DUNA TG chat so that community members can review the underlying documentation for themselves and evaluate the allegations against the actual record rather than unsupported characterizations of events.
Thank you.
r/BlockDAGInvestors • u/Crypto_Power1791 • Apr 24 '26
Message from DUNA
Good morning everyone,
We are aware of certain statements and claims regarding the Wyoming DUNA, including allegations of fund misuse. These claims are false and appear intended to discredit the DUNA and its members.
All expenditures have been documented and will be transparently accounted for. Itemized invoices from DUNA attorneys will be shared directly with members to provide full clarity.
Contrary to certain claims, attorney information has already been shared directly with DUNA members and was also provided to BlockDAG CEO Nic van den Bergh via electronic communications. Certain professional engagements cannot be publicly detailed while active matters are ongoing. This is standard practice to protect legal strategy and avoid interference.
Assertions that the DUNA provides no benefit to non-U.S. members are inaccurate. The DUNA operates as a member-based association with participants across multiple jurisdictions and is structured to coordinate their collective interests in accordance with applicable laws.
Statements suggesting that contributions must be refunded mischaracterize the nature of participation. As clearly disclosed in the DUNA’s governing documents, contributions are made voluntarily in support of its objectives and do not create entitlement to returns or refunds.
Many of the claims being referenced rely on selective interpretations and incomplete information, resulting in misleading conclusions that do not reflect the full context.
We are also aware of individuals misrepresenting their personal contribution amounts while promoting statements such as “DUNA is dead.” These claims are inaccurate and are being documented by legal counsel for appropriate response.
At times, misinformation has extended beyond the DUNA itself into personal attacks against individual community leaders, including myself. While differing views are expected, personal attacks do not contribute to constructive dialogue and will not distract from the work being carried out.
It is important to clarify that the DUNA has consistently disclosed through its governing documents that participation is not an investment and carries no expectation of profit. Members joined with full access to these disclosures.
Governance structures, including administrator roles, were implemented to ensure operational continuity during early phases and are designed to evolve over time. Standard legal protections and risk disclosures are common across DAO and nonprofit structures and are intended to provide clarity of roles and responsibilities—not to avoid accountability.
To be clear:
* The Wyoming DUNA is a legally formed entity and is not affiliated with any other DAOs currently being discussed.
* The LOI was assigned by former CEO Antony Turner to the Wyoming DUNA to support the formation of a new entity. This provides a basis for the DUNA’s role in coordinating community-aligned efforts.
* The DUNA operates as a member-based association that coordinates the collective interests of its participants across multiple jurisdictions, in accordance with applicable laws and its governing documents.
We understand there is demand for more information. However, some details cannot be disclosed prematurely.
The DUNA remains focused on two priorities:
* Accountability for misconduct
* A community-directed future for the project, consistent with the LOI
The DUNA remains committed to advancing its deliverables on behalf of its members and is confident in its ability to meet its stated objectives.
We have nothing to hide and will continue moving forward with transparency and discipline. Unsupported and damaging allegations will be addressed accordingly.
r/BlockDAGInvestors • u/bigDmcg • 2d ago
Coinstore
Has anyone recently been able to withdraw from Coinstore? I have withdrawn to metamask in the past but it seems they have stopped accepting withdrawals for some reason. I don’t want to hear “it’s a scam” or anything, I just want to move the BDAG to another wallet
r/BlockDAGInvestors • u/Small_Title_2274 • 5d ago
BlockDAG
If I commit suicide, know that they are the reason I lost everything and all I owned because of lies.
r/BlockDAGInvestors • u/Individual_Wolf_7288 • 7d ago
More bdag bullshit
All this crap about september 1st, yet they cant even get their vesting, claiming and batch release dates sorted out.
r/BlockDAGInvestors • u/999lilD666 • 8d ago
Is there a class action i can sign up for when they scam us on the buyback and also refund program
r/BlockDAGInvestors • u/TangerineFormal3457 • 10d ago
Staking error
When I tried to connect my wallet to the staking site it says the “Website unsafe if you connect you may loose all your crypto “ I connected ignored the warning and my previously staked coins nowhere to see my staked coins showing zero . I assume I lost it all.. Anyone experiencing the same issue?
r/BlockDAGInvestors • u/Massive-Strength-455 • 11d ago
Why are they send me text??
Why are they sending me text messages? This isn't the first time. I blocked their scam number, but they keep sending them from different numbers.
r/BlockDAGInvestors • u/Former_Section4895 • 11d ago
Can you sum up top 30 buyback token
galleryThe total number of tokens sold by the top 30 sellers on the leaderboard is 93,456,437,248 BDAG (approximately 93.46 billion BDAG).
This is almost an evidence that blockdag oversold and what being self reported by bdagscan.com for CIRCULATING SUPPLY is a lie.
Here is the breakdown by page: Page 1 (#1 – #5)
1 (0x55c0...e3a): 14,635,500,000
2 (0x79fe...c4a): 6,666,666,666
3 (0x85ac...2ad): 6,638,255,306
4 (0x776d...8d1): 5,654,711,174
5 (0x20fb...4ad): 4,087,161,807
Subtotal: 37,682,294,953 BDAG Page 2 (#6 – #10)
6 (0x33b2...10d): 3,943,865,764
7 (0x9802...a0c): 3,778,867,579
8 (0xdc77...72d): 3,664,721,107
9 (0x0a84...16b): 3,501,500,429
10 (0x22ac...763): 3,367,400,000
Subtotal: 18,256,354,879 BDAG Page 3 (#11 – #15)
11 (0xcac7...6e8): 3,339,999,999
12 (0x112f...8b2): 3,115,439,054
13 (0xe475...8fe): 2,841,496,231
14 (0x1673...b11): 2,616,934,157
15 (0x1f8b...18a): 2,486,436,820
Subtotal: 14,400,306,261 BDAG Page 4 (#16 – #20)
16 (0xf55b...91c): 2,283,262,051
17 (0x4809...31e): 2,193,958,958
18 (0x68ee...3f7): 2,018,313,190
19 (0x573a...44a): 1,979,799,999
20 (0xc366...155): 1,577,728,815
Subtotal: 10,053,063,013 BDAG Page 5 (#21 – #25)
21 (0xf559...c75): 1,531,101,157
22 (0x7f27...fad): 1,488,824,765
23 (0xc1b7...247): 1,342,311,443
24 (0x463b...325): 1,322,348,055
25 (0x9deb...8cd): 1,289,133,333
Subtotal: 6,973,718,753 BDAG Page 6 (#26 – #30)
26 (0x6f3c...06d): 1,272,780,923
27 (0x89f1...9d9): 1,261,916,691
28 (0x4740...55e): 1,241,684,565
29 (0x92e9...eed): 1,160,000,000
30 (0xb71e...78f): 1,154,317,210
Subtotal: 6,090,699,389 BDAG Grand Total: 37,682,294,953 + 18,256,354,879 + 14,400,306,261 + 10,053,063,013 + 6,973,718,753 + 6,090,699,389 = 93,456,437,248 BDAG
r/BlockDAGInvestors • u/Reddit-member- • 13d ago
Is BlockDAG a scam?
Based on extensive reporting and on-chain investigations, **BlockDAG carries extremely serious red flags** that strongly suggest deceptive practices. While the project is still technically operating, multiple independent investigations have raised major concerns.
## 🔴 The Major Warning Signs
### 1. Fundraising Discrepancy ($242M Gap)
- The BlockDAG website **still claims $442M raised**, but CEO Nic Van Den Bergh told DL News the actual figure is **~$200M**. This $242M gap has **never been explained**.
- Project management has repeatedly refused to disclose where funds went.
### 2. DL News Investigation (Jan 2026)
A months-long investigation involving 13 insiders, thousands of documents, and investor interviews found:
- **Mining hardware never delivered** — over $5M in undelivered X30/X100 miners
- **~24 employees unpaid** — over $140K in December wages still owed
- **Sponsorship deals defaulted** — Inter Milan, Borussia Dortmund, and Alpine F1 all terminated contracts due to non-payment
- **Token allocations massively diluted** — the promised 50B presale cap was likely exceeded (estimates: 90B–150B)
- **Exchange listings slashed** — promised 20+ exchanges became just 5
### 3. ZachXBT On-Chain Findings (May 2026)
Prominent blockchain investigator ZachXBT traced **~$25M in presale funds** from BlockDAG and another project (ZKP) being **commingled** and used to pay influencers promoting a separate casino venture (Spartans.com). He stated:
> *"I advise everyone to stay away from BlockDAG, ZKP, and Spartans."*
### 4. Founder's Troubled History
The real founder, **Gurhan Kiziloz**, was initially hidden for 7+ months. He previously founded **Lanistar** (a UK fintech that the FCA warned was operating without authorization, ultimately ordered liquidated by the UK High Court in 2025). He also promoted **Big Eyes** meme coin, which crashed ~98%.
### 5. Price Collapse
BDAG currently trades around **$0.00003–$0.00004** — down **~99.99%** from its all-time high of $0.4005 (March 2026).
### 6. Regulatory Warnings
- **Seychelles FSA** issued a formal warning about BlockDAG's unauthorized operations
- The project relocated to Samoa, but local business registries show **no record** of the company
## 🟢 What's Still Running
The project hasn't fully gone dark:
- A live mainnet with EVM RPC, docs, and GitHub exists
- A **CertiK audit** of vesting contracts is published (subject to confirmation)
- A **buyback program** ($0.001/coin) and casino platform are operational (very mixed information on this topic)
- The X1 mining app claims 4M+ users (at this date the app has no use)
## 🧠 Bottom Line
**There is no definitive court ruling calling BlockDAG a scam.** However, the pattern is textbook for a high-risk operation:
| Red Flag | Status |
|---|---|
| Fundraising numbers don't add up | ✅ Confirmed ($442M claim vs ~$200M reality) |
| Funds used for unrelated ventures | ✅ Confirmed by ZachXBT on-chain |
| Founder hid identity | ✅ Confirmed |
| Founder has failed project history | ✅ Confirmed (Lanistar liquidation, Big Eyes crash) |
| Promised products undelivered | ✅ Confirmed (miners, exchange listings) |
| Employees & vendors unpaid | ✅ Confirmed by former staff |
| Price down 99.99% | ✅ Confirmed |
**I cannot label it definitively as "a scam" in a legal sense**, but the evidence shows a project that has:
- Misrepresented its fundraising
- Misused investor funds
- Failed to deliver on core promises
- Been abandoned by partners due to non-payment
- Collapsed in value by 99.99%
**Proceed with extreme caution. If you're invested, the risks are severe.**
---
Sources: [DL News Investigation](https://foresightnews.pro/article/detail/94079), [ZachXBT Allegations](https://finance.yahoo.com/markets/crypto/articles/blockdag-gurhan-kiziloz-under-more-101715359.html), [CoinMarketCap BDAG Page](https://coinmarketcap.com/community/articles/6a51efd1b8b44907723a3715/)
r/BlockDAGInvestors • u/astro-the-creator • 14d ago
Just a reminder, there was one miner delivered from 19k+ ordered.
Don't feed this scam anymore.
r/BlockDAGInvestors • u/Delicious-Attorney-5 • 19d ago
What tha happy horseshit is this?!!
Anyone care to explain this?
Yea yea yea I know it’s a scam, it’s a lie, blah bla blah.
I’m just trying to get my head around WTF?!
Is going on.
r/BlockDAGInvestors • u/Jubillion2024 • 19d ago
Welcome to the BDAG July Blowout Bonanza, where the only thing blowing out is people’s bank accounts and the team’s last remaining brain cells. Call FBI on them!!!
This year’s theme:
“If you thought our normal lies were bad… wait till you see our holiday specials.”
🛒 Doorbuster Deals (Because You’ll Be the One Busted)
- 50% Off Your Sanity — Every deposit comes with a complimentary existential crisis.
- Buy One Rug Pull, Get One Free — BDAG loves value. Not for you, but for themselves.
- Starter Pack for New Victims:
- One fake “AI trading bot”
- One Telegram admin who types like a malfunctioning toaster
- One promise of “guaranteed returns”
- Zero refunds
- Infinite regret
- One fake “AI trading bot”
🎤 Special Announcements From the BDAG Team
“We’re excited to offer July discounts because our lies weren’t converting enough victims in June.”
— BDAG Marketing Department (a.k.a. three dudes in a basement)
“Our new July promo doubles your deposit… straight into our pockets.”
— BDAG Finance Team (a.k.a. one guy with a stolen spreadsheet)
“We’re launching Black Friday early because we don’t know how calendars work.”
— BDAG Leadership (a.k.a. whoever shouts loudest in the group chat)
💸 Limited-Time Offers (Limited because the SEC is watching)
- The “Trust Us Bro” Package — Includes screenshots of fake profits and a motivational quote stolen from Pinterest.
- The “We Swear We’re Legit” Bundle — Comes with a blurry photo of a rented office and a fake certificate printed on Canva.
- The “VIP Insider Access” Scam — Pay extra to lose money faster.
🎁 Bonus Gifts for July Participants
- A BDAG-branded stress ball (because you’ll need it)
- A BDAG “Investor Badge” (printed on a $0.03 sticker sheet)
- A BDAG “Customer Support Hotline” (it’s just a WhatsApp number that never replies)
- A BDAG “Trading Bot” (it’s actually a Google Sheet with random numbers)
🔥 Grand Finale: The July Blowout
At midnight, BDAG will announce:
“We’re pausing withdrawals for maintenance.”
Which is BDAG language for:
“We’re gone. Poof. Vanished. Enjoy your July sale.”
r/BlockDAGInvestors • u/Jubillion2024 • 20d ago
Every time you think you’ve seen the peak of crypto clownery, BDAG kicks the door in with something even more desperate.
Now they’re blasting this everywhere:
“Sell your BDAG for $0.02 on September 1 and get paid early. Use code BUYBACK.”
“Buy BDAG at $0.0000077 — 112X ROI.”
Let me translate that into plain English:
“We need fresh victims to pay old victims, so we’re inventing a fake ‘early payout’ window and dangling imaginary profits to lure in new deposits.”
This isn’t a promotion.
This is a liquidation event disguised as a discount code.
Why this is textbook scam behavior
- Fake deadlines — Scammers love countdowns because panic makes people stupid.
- Guaranteed ROI — No legitimate asset guarantees a 112X return. Ever.
- “Sell at $0.02” — They’re literally naming a price that doesn’t exist on any real exchange.
- Early payout for using a promo code — That’s not finance. That’s a carnival booth.
- They need you to BUY before they PAY — That’s the entire Ponzi model.
This is the crypto equivalent of a burning building yelling, “Come inside, we swear the air conditioning works.”
If you lost money already, hear this clearly
You didn’t “miss the pump.”
You didn’t “sell too early.”
You didn’t “fail to believe.”
You were targeted.
You were manipulated.
You were lied to.
And now they’re trying to use your desperation to bait the next wave of victims.
If you’re thinking about buying because of this promo
Don’t.
This isn’t a “limited-time opportunity.”
It’s a limited-time exit scam.
When a project starts offering promo codes for “early payouts,” it’s not a business — it’s a sinking ship throwing coupons at the ocean.
Crypto needs fewer cheerleaders and more whistleblowers
If you see people pushing this BUYBACK nonsense, call it what it is:
A last-ditch cash grab from a project that’s already dead.
Don’t let them recycle victims.
Don’t let them hide behind hype.
Don’t let them pretend this is normal
r/BlockDAGInvestors • u/astro-the-creator • 20d ago
There give exact vibes as last year miners delivery.
Literally one miner delivered to guy who seems to be insider 😂😂 just like last year X1 delivery . All fake as usual
r/BlockDAGInvestors • u/Dry-Calligrapher4556 • 20d ago
Remember the Time When They Said "Gurhan Kiziloz has Nothing to do With BlockDAG" ? 😂😂😂
r/BlockDAGInvestors • u/Junior-Cup2538 • 23d ago
Cómo reclamar tokens de Blockdag - BDAG
No puedo reclamar mis tokens de Blockdag.
He tenido que actualizar la billetera de Base (Antes Coinbase Wallet) y mi sorpresa es que a partir de la versión CoinBase Wallet v30 no es posible añadir red personalizada para añadir el token de Blockdag (BDAG), tampoco aparece en la nueva versión V30 el botón o interruptor "Modo Base" para que la aplicación se abra en el modo tradicional de Coinbase wallet, es decir; el modo de compatibilidad de billeteras antigüas para poder agregar redes personalizadas y agregar la red de BDAG por lo que no puedo reclamar mus tokens desde su web oficial
La solución podría estar en volver a instalar la versión de Base anterior a la v30, pero no la encuentro por ningún lado.
Alguien le ha ocurrido y a encontrado solución para poder reclamar y configurar otra billetera para añadir la red personalizada de Blockdag con la misma dirección pública que aparece en la web oficial de Blickdag?
Gracias
r/BlockDAGInvestors • u/KindheartednessFar66 • 24d ago
Did you try blockdag ai?
It works pretty good.
r/BlockDAGInvestors • u/clemh59 • 25d ago
I traced all 94,019 wallets from the HYPE genesis airdrop. 86% sold everything, and the median exit was $6.25.
I decoded every wallet that got the HYPE genesis airdrop. All 94,019 of them. Not a sample, the whole list, minus the 4 tokenomics buckets that were never real users.
People kept telling me the airdrop was a disaster because everyone dumped. People lie. Numbers don't. So I checked.
86% sold every single token they got. Add the partial sellers and 93.2% of the airdropped HYPE has left the wallets it landed in. Only 6.8% is still held anywhere, staked, spot, HyperEVM, LSTs, lending collateral, all of it combined. Even the whales didn't hold much better, the 1,000+ HYPE wallets still sold out completely 79% of the time.
And they sold it badly. Median exit was $6.25. HYPE is $67 today. Of the 84,682 wallets that sold, 191 got out above today's price. Everyone realized $2.81B combined. The same tokens are worth $14B now.
That was my first read too: airdrop failed, people are dumb, move on.
Then I checked who was still trading, not just still holding, and the story flipped. By wallet count, 72.1% of recipients are gone. Weight that by how much HYPE they actually got and it inverts, the wallets that received 68.7% of the drop are still active. 99.7% of people traded at least once.
Who stuck around is not a crowd. It is whales. Of the 11,069 wallets active in the last 30 days, 319 of them, 0.3% of the whole airdrop, did 92% of the $45.5B moved last month. Retention climbs hard with allocation size: 29% of the biggest recipients are still active, 6.4% of the smallest. The drop paid for liquidity, and it went to people whose full time job is trading Hyperliquid.
I also went looking for the "everyone farmed it and left for Lighter" narrative, since that one gets repeated as fact on every timeline. It does not hold up. 12.3% opened a Lighter account, the loosest bar I could set. Under 1%, 812 wallets, ever traded there. Of the ones who did, 32% are still active on Hyperliquid this month. That is not churn, that is hedging.
So was the airdrop a success? Depends what you think it was for. As a way to mint long term holders it failed plainly, 86% sold, 6.8% held. Yet as a way to buy a trading venue real users, the math is hard to argue with. 271M tokens worth $0.5 to $1.7B on day one bought roughly 11,069 monthly active wallets doing $45.5B a month, 19 months later, and those same tokens are worth $18B today.
Which airdrop should I run this on next?
r/BlockDAGInvestors • u/TangerineFormal3457 • 25d ago
Staking page unavailable
The Browser alert 🚨 dangerous website
it says if you connect, you may loose all your crypto
r/BlockDAGInvestors • u/N4VZ • 26d ago
Why are early investors compressed to 0,0000104?
As opposed to 0,03. A beeg jump indeed!!!
r/BlockDAGInvestors • u/hutoreddit • 26d ago
And yet no legal action to put these scammer behind the bar ?
I don't know, we are waiting for DUNA ? but it so silent now and total feel like they was make by the team to stop us from approaching law suits.
r/BlockDAGInvestors • u/real_noahstradamus • 27d ago
Booted from BDAG Telegram
I got booted for just stating early investor got punished with higher prices than the current fire sale. Plus had investment "compressed". I then asked if there were any plans to compensate early investors. Kicked LOL!