Blockchain investigator ZachXBT has drawn attention to BlockDAG, a project that boasts of having collected $375 million during its presale. ZachXBT posted the warning on X (previously Twitter), where it claimed that BlockDAG is a phony project, hence urging investors to keep off. 

BlockDAG is an emerging project that has gained attention in recent months. The project positions itself as a Layer-1 blockchain project, promising scalability and crypto mining opportunities which has helped it gather a loyal fan base through online campaigns, sponsorship deals and advertising. However, the unexpected announcement of an incredible presale, and the accompanying slow technological developments, have caused uncertainty that was flagged by ZachXBT. 

ZachXBT Sounds the Alarm Against BlockDAG

In a post on X, ZachXBT called BlockDAG a “fake project,” telling followers to be wary. His claim was blunt: the $375 million figure had been fabricated.

I hope your team realizes that BlockDAG Network is a fake project / investment scam that has held a presale for 1.5+ years that’s supposedly ending “soon” while regularly transferring investor funds to various exchange accounts and marketing fake numbers to increase retail fomo. pic.twitter.com/VpupqmkLsY

— ZachXBT (@zachxbt) August 18, 2025

However, the blockchain investigator did not provide hard proof but pointed instead to patterns he has seen in past frauds. According to him, the timeline of the project does not match its claims. ZachXBT also revealed that BlockDAG once offered him money to promote the token, which he turned down. 

This expos has led to numerous speculations regarding the real extent of BlockDAG community support compared to paid advertising. Nevertheless, ZachXBT must provide additional details to substantiate the allegations. 

Conflicting Announcements Add to the Doubts

The presale figure is not the only detail under scrutiny. Analysts had expected BlockDAG to launch its ICO and mainnet early in the year. Yet, the third quarter is here with little to show in terms of progress.

Matters grew more complicated when LBank, a crypto exchange, announced it would list BDAG. Its listing page claimed the ICO had already raised $600 million, far higher than BlockDAG’s own reported presale. Several details were also left blank in the announcement. Such discrepancies have only deepened suspicion.

While the events above do not confirm fraud, the inconsistency in figures announced is hard to ignore. 

Weighing BlockDAG; Hype Versus Reality

Despite these concerns, BlockDAG has been able to retain sufficient momentum within its community. Its potential continues to flood social media platforms with enthusiastic posts. The brand has also been thrust into mainstream awareness courtesy of sponsorship deals.

BlockDAG’s growing popularity can also be attributed to LBank’s support for the project. This exchange has a reputation of riding hype cycles, and the online presence has turned BlockDAG into an intriguing wager. At this point, the popularity of the token might be a sufficient reason for the exchange to list it.

However, unavailable progress reports, and unresolved financial claims have put off many of the supporters of the project. But, there are people who still believe in the token’s potential while others are waiting to see more empirical results.

What Happens Next?

Right now, the accusations remain unproven. The numbers tied to BlockDAG’s fundraising cannot be independently verified, and LBank has not revised its listing notice. Still, ZachXBT’s track record means his warning cannot be brushed aside.

Until the project can show audited results or deliver on its long-promised mainnet launch, the doubts will remain. As it stands, patience may be the most prudent approach for investors. The project is either on the verge of proving its critics wrong – or confirming the fears.