2019
Lanistar founded
Gurhan Kiziloz founds Lanistar in London, pitched as a “polymorphic” debit-card fintech that lets users link up to eight bank cards to a single physical card.
Chronological record
Timeline
Seven years of ventures, regulatory actions, and investigative findings — in the order they happened.
Neutral / business eventAdverse event
- 2019
Lanistar founded
Gurhan Kiziloz founds Lanistar in London, pitched as a “polymorphic” debit-card fintech that lets users link up to eight bank cards to a single physical card.
- Jun 2020
£15m “investment” announced
Lanistar announces a £15 million investment from Milaya Capital, supporting a £150 million company valuation. The investment is later confirmed to be a loan from Kiziloz's family. Source: BusinessCloud
- Nov 2020
FCA warning issued
The UK Financial Conduct Authority places Lanistar on its public warning list for offering financial services without authorisation. Lanistar amends its marketing within days and the warning is withdrawn. Source: Sifted
Nov 2020FCA warning issued
The UK Financial Conduct Authority places Lanistar on its public warning list for offering financial services without authorisation. Lanistar amends its marketing within days and the warning is withdrawn. Source: Sifted
- 2021
Misleading-advertising ruling
The UK Advertising Standards Authority orders Lanistar to remove “misleading” advertising claims describing its card as the “world's most secure payments card.”
- 2021–2024
Glassdoor testimony accumulates
Multiple Glassdoor reviews from former Lanistar and WPRO employees describe a culture of unpaid wages, mass layoffs, and direction to write press-release articles promoting cryptocurrency presales. Allegations of internal contests offering £2,500 prizes for the most convincing fabricated Glassdoor reviews emerge. Source: Glassdoor
2021–2024Glassdoor testimony accumulates
Multiple Glassdoor reviews from former Lanistar and WPRO employees describe a culture of unpaid wages, mass layoffs, and direction to write press-release articles promoting cryptocurrency presales. Allegations of internal contests offering £2,500 prizes for the most convincing fabricated Glassdoor reviews emerge. Source: Glassdoor
- 2023
Big Eyes Coin presale and collapse
Big Eyes Coin reportedly raises ~$40M in its presale phase. Price subsequently falls approximately 98%. Former WPRO staff later allege Kiziloz directed its promotion through WPRO content channels.
- Dec 2023
BlockDAG announced
BlockDAG project announced as a Layer-1 blockchain combining DAG architecture with Proof-of-Work mining. The founders remain anonymous for the first seven months.
Dec 2023BlockDAG announced
BlockDAG project announced as a Layer-1 blockchain combining DAG architecture with Proof-of-Work mining. The founders remain anonymous for the first seven months.
- 2024
Memecoin promotion continues
Multiple memecoins promoted via WPRO marketing channels — including Dogetti, Poorcoin, OnWin, Beastereum, DogeMiyagi, RoboApe, Saitama, and Huh Token. Most lose the majority of their value within months of launch.
- Aug 2024
Presale bonus escalation begins
BlockDAG begins issuing presale bonuses, starting at 50%. The bonus rate escalates over the following year, eventually reaching 2050% by September 2025 — a pattern critics describe as characteristic of a project struggling to attract fresh capital on fundamentals.
Aug 2024Presale bonus escalation begins
BlockDAG begins issuing presale bonuses, starting at 50%. The bonus rate escalates over the following year, eventually reaching 2050% by September 2025 — a pattern critics describe as characteristic of a project struggling to attract fresh capital on fundamentals.
- Sep 2024
First Lanistar winding-up petition
First winding-up petition filed against Lanistar by its London landlord over unpaid rent. CEO Jeremy Baber and adviser Sir Gavin Williamson sever ties with the company. Source: BusinessCloud
- Oct 2024
First petition dismissed
High Court dismisses the first winding-up petition after Lanistar settles outstanding debts. Sponsored articles frame the outcome as a “courtroom victory.”
Oct 2024First petition dismissed
High Court dismisses the first winding-up petition after Lanistar settles outstanding debts. Sponsored articles frame the outcome as a “courtroom victory.”
- Feb 2025
Second winding-up petition
Second winding-up petition filed against Lanistar by Accomplish Financial Limited, a payments processor. Source: Sifted
- Mar 19, 2025
Seychelles FSA issues BlockDAG warning
The Financial Services Authority of Seychelles issues a public warning against BlockDAG (DAG Systems Ltd.) for unauthorised activity under the Virtual Asset Service Providers Act 2024. Source: FSA Seychelles
Mar 19, 2025Seychelles FSA issues BlockDAG warning
The Financial Services Authority of Seychelles issues a public warning against BlockDAG (DAG Systems Ltd.) for unauthorised activity under the Virtual Asset Service Providers Act 2024. Source: FSA Seychelles
- Apr 1, 2025
DAG Systems Ltd. struck off
The corporate entity behind BlockDAG is struck off the Seychelles register.
- Aug 18, 2025
ZachXBT calls BlockDAG a “fake project”
On-chain investigator ZachXBT publicly characterises BlockDAG as a “fake project / investment scam,” citing the 1.5+ year presale and movement of investor funds. Source: BeInCrypto
Aug 18, 2025ZachXBT calls BlockDAG a “fake project”
On-chain investigator ZachXBT publicly characterises BlockDAG as a “fake project / investment scam,” citing the 1.5+ year presale and movement of investor funds. Source: BeInCrypto
- Sep 2025
Lanistar liquidation ordered
The High Court of Justice in London orders Lanistar Limited into liquidation.
- Oct 29, 2025
ZachXBT names Kiziloz as BlockDAG's founder
ZachXBT publicly names Gurhan Kiziloz as the secret founder of BlockDAG. BlockDAG blocks his account on X and hides his replies that name Kiziloz. Source: Cryptopolitan
Oct 29, 2025ZachXBT names Kiziloz as BlockDAG's founder
ZachXBT publicly names Gurhan Kiziloz as the secret founder of BlockDAG. BlockDAG blocks his account on X and hides his replies that name Kiziloz. Source: Cryptopolitan
- Nov 2025
“Value Era” rebrand
BlockDAG announces it is entering a “Value Era,” with new tokenomics and the suspension of presale bonuses. Critics characterise this as damage-control rebranding.
- Dec 1, 2025
DAO transition agreement signed
Kiziloz signs a transition agreement committing to transfer the entire BlockDAG project — including the treasury — to a community-run DAO. The transfer never takes place.
Dec 1, 2025DAO transition agreement signed
Kiziloz signs a transition agreement committing to transfer the entire BlockDAG project — including the treasury — to a community-run DAO. The transfer never takes place.
- Dec 2025
Copyright strikes against critics
Multiple YouTubers report receiving copyright strikes against videos covering Kiziloz and BlockDAG. At least one video specifically titled “BlockDAG's Co-Founder Linked to Scams” is removed. Source: TheHolyCoins
- Dec 29, 2025
Kiziloz acknowledges BlockDAG role
In an investor AMA, Kiziloz acknowledges his role as BlockDAG's founder. He tells investors: “The reason we hired Antony was because I had a few failed projects in the past.” Source: DL News
Dec 29, 2025Kiziloz acknowledges BlockDAG role
In an investor AMA, Kiziloz acknowledges his role as BlockDAG's founder. He tells investors: “The reason we hired Antony was because I had a few failed projects in the past.” Source: DL News
- Dec 30, 2025
CEO Antony Turner terminated
Antony Turner is fired as CEO of BlockDAG. Nic Van Den Bergh — previously the project's chief marketing officer — is appointed in his place. The change of leadership follows Kiziloz's public acknowledgement of his founding role the day before.
- Jan 2026
DL News investigation published
DL News publishes the major long-form investigation: “Inside BlockDAG's $442m crypto maze of missing miners, unpaid employees, and breached contracts.” Investors begin organising regulatory complaints with VARA (UAE) and other authorities. CEO Nic Van Den Bergh acknowledges to DL News that the real raise figure is closer to $200 million than the $442 million advertised. Source: DL News
Jan 2026DL News investigation published
DL News publishes the major long-form investigation: “Inside BlockDAG's $442m crypto maze of missing miners, unpaid employees, and breached contracts.” Investors begin organising regulatory complaints with VARA (UAE) and other authorities. CEO Nic Van Den Bergh acknowledges to DL News that the real raise figure is closer to $200 million than the $442 million advertised. Source: DL News
- Feb 20, 2026
BlockDAG listed — but trading disabled
BDAG is listed on exchanges, but deposits are disabled across venues. Holders cannot move tokens onto exchanges, so no real trading is possible despite the listing announcement.
- Apr 2026
Spartans.com expansion announced
Sponsored content reports Spartans.com entering the global top 14 of crypto casinos following a $200 million internal investment from Nexus International. The expansion narrative continues even as BlockDAG investor complaints mount. Source: TechFinancials (sponsored)
Apr 2026Spartans.com expansion announced
Sponsored content reports Spartans.com entering the global top 14 of crypto casinos following a $200 million internal investment from Nexus International. The expansion narrative continues even as BlockDAG investor complaints mount. Source: TechFinancials (sponsored)
What the timeline shows
Read top to bottom, the trajectory has three distinct phases:
- 2019–2024: The Lanistar phase. Aggressive launch, regulatory friction, marketing-led growth, financial distress, departures of senior figures.
- 2023–2025: The crypto pivot. Memecoin promotion through WPRO, the launch of BlockDAG with concealed founders, accumulation of presale capital while Lanistar's UK operations wind down.
- 2025–2026: The exposure. Regulatory warnings catch up. ZachXBT identifies Kiziloz publicly. Critical journalism intensifies. The corporate structure pivots to Brazilian gambling and crypto casinos. Suppression tactics escalate against critics.
The same individual is at the centre throughout.