Pattern of ventures

Other Failed Projects

BlockDAG was not the first. A pattern emerges across six years and at least eight ventures.

01Lanistar (2019–2025)

Founded in 2019, Lanistar pitched a "polymorphic" debit card that would allow users to link up to eight bank cards to a single physical card. The launch was supported by approximately 3,000 paid influencers, including Premier League footballers — Karim Benzema, Kevin De Bruyne, and Luis Suarez among them — and Love Island cast members.

November 2020 — FCA warning

The UK Financial Conduct Authority placed Lanistar on its warning list, stating it was offering financial services without authorisation. Lanistar amended its marketing within days and the warning was withdrawn. The company was later approved as an EMD agent in 2021.

Sources: Sifted — Regulator issues warning on hyped fintech Lanistar

2021 — Misleading advertising ruling

The UK Advertising Standards Authority ordered Lanistar to remove "misleading" advertising that had described the card as the "world's most secure payments card."

Sources: DL News investigation

September 2024 — CEO and adviser depart

Then-CEO Jeremy Baber and former UK Defence Secretary Sir Gavin Williamson, who had joined Lanistar as an adviser, both severed ties with the company in September 2024 amid a winding-up petition from the company's London landlord over unpaid rent.

Sources: BusinessCloud — CEO & former Minister leave crisis FinTech Lanistar

February 2025 — Second winding-up petition

A second winding-up petition was filed by Accomplish Financial Limited, a payments processor working with Lanistar.

Sources: Sifted — Second winding-up petition

September 2025 — Liquidation

The High Court of Justice in London ordered Lanistar Limited into liquidation.

Sources: DL News investigation

The £15 million "investment" that wasn't

A purported £15 million investment from Milaya Capital — used to support a £150 million company valuation in early press coverage — was later confirmed to be a loan from Kiziloz's own family, not a third-party investment.

Sources: BusinessCloud — CEO & former Minister leave crisis FinTech Lanistar

02WPRO (the marketing arm)

WPRO ("World Press Release Organisation") is a marketing agency described in former-employee testimony as Lanistar's sister company.

According to multiple Glassdoor reviews from former staff, WPRO's primary function was producing content promoting cryptocurrency tokens — typically five articles per day, each mentioning three coins, two of which were established assets used to lend credibility to the third, a low-cap presale token.

Former employees also alleged that Lanistar ran an internal competition encouraging staff to post fake five-star reviews on Glassdoor, with a £2,500 prize for the most convincing fake review and £100 for participation.

Sources: Glassdoor — "THE TRUTH ABOUT LANISTAR/WPRO"

03Big Eyes Coin (2023)

Big Eyes Coin was a memecoin launched in 2023, reportedly raising over $40 million in its presale phase. Investors subsequently accused the project of misleading marketing, lack of transparency, and failure to deliver tokens.

The price of Big Eyes has fallen approximately 98% since inception, according to CoinGecko. The platform also flags that the token contract creator can make changes to the asset, including creating new tokens, transforming tokens, or disabling selling — a structural feature that gives the contract owner unilateral control over the asset.

Former WPRO and Lanistar staff have alleged in published interviews that Kiziloz directed the promotion of Big Eyes through WPRO's content channels.

Sources: DL News investigation · Cryptonews — BlockDAG's $433M Presale in Crisis

04Dogetti, Poorcoin, and other memecoins

Multiple sources, including former WPRO employees and investigators, have linked Kiziloz to the promotion of additional short-lived memecoins:

  • Dogetti
  • Poorcoin
  • OnWin
  • Beastereum
  • DogeMiyagi
  • RoboApe
  • Saitama
  • Huh Token

Most of these tokens lost the majority of their value within months of launch. The pattern is consistent: an aggressive marketing push through the WPRO content network, followed by sharp price decline once the marketing tap was turned off.

Sources: Glassdoor — former-employee testimony · TheHolyCoins — BlockDAG Network linked to hidden co-founder

05Megaposta (Brazil)

Megaposta is a Brazilian sports-betting platform operated under Nexus International, the holding company that also owns Lanistar and Spartans.com. It secured a Brazilian gaming license under the country's new regulatory framework in early 2025 and is reported by Nexus to be generating significant revenue.

Megaposta is included here for context — it is the legitimate, licensed operating arm of the wider Kiziloz portfolio, and its existence is part of how he funds and supports the more controversial ventures. The question worth asking is not whether Megaposta is real (it is) but where the cash flow it generates ultimately goes.

Sources: CasinoBeats — SPA Approves 21 New Operators

06Spartans.com (the crypto casino)

Spartans.com is Nexus International's crypto-native online casino. Sponsored content reports that $200 million has been internally invested in the platform.

ZachXBT has identified Kiziloz as a co-founder of Spartans. The platform's link to BlockDAG — both share Kiziloz's involvement and overlapping operational infrastructure — is one of the elements that connects the broader allegations.

The "Spartans" branding has become an unofficial signal in the BlockDAG community. Sponsored articles describe Kiziloz's plan as a vertically integrated empire spanning gambling, fintech, and Layer-1 blockchain — with the same individual at the centre of all three.

Sources: Jerusalem Post (sponsored) — Spartans.com Gets $200 Million Boost · CryptoPotato — Investigator Alleges $300M Scam

07Nexus International (the holding company)

Nexus International is the umbrella that ties everything together. Sponsored content describes it as generating $1.2 billion+ in annual revenue and Kiziloz as a self-made billionaire with a $1.7 billion net worth.

These figures are not independently verified. They originate almost entirely from sponsored placements and PR, much of which carries explicit "in collaboration with BlockDAG" or "prepared with the support of Nexus International" disclosures.

The DL News investigation flagged that the company's claimed wealth and growth narrative — built across dozens of nearly identical articles in venues including the Jerusalem Post, Insider Monkey, Punch Nigeria, DailyCoin, Crypto.news, and Finbold — appears to be a coordinated reputation-building campaign rather than independent reporting.

Sources: DL News investigation · Crypto.news (sponsored) — Nexus International founder amasses $1.7bn fortune

Closing

Each of these ventures, taken in isolation, has its own narrative arc. Lanistar can be framed as a startup that grew too fast and collapsed under regulatory pressure. Megaposta can be framed as a successful pivot. Spartans.com can be framed as a legitimate gambling operation. Big Eyes can be dismissed as just another memecoin that didn't work out.

Taken together, with the same individual at the centre of all of them, the pattern is harder to wave away.

That pattern is the subject of the next page.