On August 18, 2025, blockchain investigator ZachXBT issued a public reply on X to LBank’s three-month-old tweet announcing the upcoming listing of the BDAG token by BlockDAG Network.
In his response, ZachXBT described BlockDAG as a “fake project" and "investment scam” with an extended presale period exceeding 1.5 years, alleging that the project is transferring investor funds to exchange accounts while promoting inflated fundraising figures.
The reply included two screenshots from BlockDAG Network’s own social media posts, showing fundraising claims of $6.5 million in March 2024 and $375 million more recently.
LBank’s May Listing Tweet Resurfaces After Months Amid BlockDAG Presale Criticism
LBank originally posted on May 13, 2025, that BlockDAG Network would be listed soon on its exchange. The tweet described BlockDAG Network as combining modern decentralized ledger technologies and provided a link to a support article announcing the listing. No exact launch date was shared. Months later, ZachXBT responded to the post, calling the project a scam and pointing to the length and scale of the BlockDAG presale.
In the reply, ZachXBT attached two X post screenshots from BlockDAG Network's account. One, dated March 22, 2024, stated that $6.5 million had been raised during the BDAG presale. The other, more recent claim stated that $375 million had been collected. These posts were used to support ZachXBT’s assertion that the presale is being excessively prolonged and used as a tool for retail FOMO.
ZachXBT Shares Examples of User Tags and a BlockDAG Promotional Offer
After posting his main reply, in response to a user named DMG, ZachXBT followed up to clarify that the LBank tweet was several months old, but said he continues to receive frequent tags from users regarding BlockDAG Network. “Something had to be said”, he wrote, sharing two screenshots showing users tagging his account in recent posts about BlockDAG, suggesting persistent public concern or promotional attempts targeting his audience.
When another user, kizzito.eth, questioned whether LBank was paid to publish the BDAG listing tweet, ZachXBT responded that he “wouldn’t be surprised” if it was a paid post. To support this, he shared a screenshot of a direct message he received from the BlockDAG team. The message offered him a paid collaboration for a one-day pinned post on his X account and proposed payment in USDT via TRC20. This message adds context to his claim that BlockDAG is engaging in influencer outreach to promote its presale.
ZachXBT’s Track Record in Crypto Scam Investigations
ZachXBT is a well-known independent blockchain investigator recognized for identifying crypto exchange exploits, fraudulent crypto projects, hacks, and manipulative practices using on-chain forensics. He regularly publishes research exposing scam operations and fund movements and has been cited in mainstream media, legal proceedings, and crypto compliance circles. His work often contains tracking fund movements, visualizing wallet connections, and uncovering identity links.
BlockDAG Network and the BDAG Token Presale
BlockDAG Network markets itself as a Layer-1 blockchain solution that combines DAG architecture with EVM compatibility. The crypto project has promoted a multi-phase BDAG token presale across a series of posts and updates, sometimes highlighting product developments and affiliate campaigns. The presale has now reportedly spanned over 18 months, with BlockDAG recently claiming to have raised $377 million. Despite high fundraising claims, no full audit or token launch timeline has been confirmed by major exchanges. BDAG remains in presale, with LBank’s original May 13 listing notice still labeled “coming soon”.
