Frontman Controversy Ignites Trust Discussion While BlockDAG's $433M Presale Expands

The $433 million fundraising for the blockchain initiative BlockDAG has ignited significant debate after on-chain analyst ZachXBT accused the project's CEO, Antony Turner, of acting as a figurehead for Gurhan Kiziloz. Kiziloz is a British businessman with a record of unsuccessful fintech and crypto projects, according to

. These claims emerged after Turner introduced the "VALUE ERA" stage on X, fueling a wider conversation about the need for openness in crypto leadership and the dangers associated with large-scale fundraising.

ZachXBT, recognized for uncovering fraudulent schemes, alleged that Kiziloz—who has ties to the failed Big Eyes Coin

token and was previously cautioned by the UK's FCA—is covertly managing BlockDAG. He asserted that Turner is compensated to be the project's public face while Kiziloz moves fundraising proceeds through OTC brokers in the Middle East, as reported by Yahoo Finance. In response, BlockDAG blocked ZachXBT on X and removed comments, actions the investigator said highlighted the project's lack of transparency.

Turner has refuted these accusations, stressing his traceable professional history. As the CEO of Spirit Blockchain Capital Inc., a company listed on the Canadian Securities Exchange, and co-founder of SwissOne Capital AG—the creator of Switzerland’s first regulated crypto index fund—Turner’s qualifications are supported by corporate records and his LinkedIn profile, according to

. The BlockDAG leadership team also features CTO Jeremy Harkness and security specialist Dr. Youssef Khaoulaj, whose positions are outlined in official documentation.

Utilizing Directed Acyclic Graph (DAG) technology alongside Proof-of-Work mining, the project has drawn criticism for delays in its development timeline. The mainnet, initially expected to launch in June, has now been postponed indefinitely, with tokens still available at varying prices, as previously reported. Skeptics argue that the ongoing fundraising—now surpassing $430 million—resembles a high-yield investment program, particularly since the project has not confirmed exchange listings or delivered a mainnet.

Turner, on the other hand, has described the allegations as a "coordinated disinformation campaign" orchestrated by competing blockchain projects, a stance he has shared publicly. He highlighted BlockDAG’s technical achievements, such as the operational Awakening Testnet and collaborations with Halborn and CertiK for security reviews. The project has also set a February 10, 2026, deadline for major exchange listings, a milestone Turner claims will prove its authenticity.

Reactions from the community have been divided. Supporters point to Turner’s openness and the project’s 3.5 million X1 app users as evidence of legitimacy, according to

, while critics focus on poor Trustpilot ratings and repeated postponements. EcoYield, a competing project centered on AI and renewable energy, has set itself apart from BlockDAG by highlighting its asset-backed revenue and transparent operational data in .

This dispute highlights ongoing challenges in the crypto sector, where anonymity often shields project founders from responsibility. As U.S. lawmakers advocate for stricter oversight—supported by Coinbase CEO Brian Armstrong’s recent discussions with 25 senators—projects like BlockDAG are facing increased examination, as mentioned in

. Turner’s public identity, in contrast to the anonymous founders of or , could set a new standard for trust in the industry, according to .

For now, BlockDAG’s future depends on its ability to meet its commitments by February 2026. Until then, the controversy over Turner’s involvement and the legitimacy of the fundraising is likely to remain a hot topic in the crypto community.

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