Short answer: there are a lot of red flags around BlockDAG. I wouldn’t call it definitively a scam—there are mixed signals—but the risk of losing money looks high. Here’s the balanced view with receipts.
What BlockDAG claims
- Layer-1 “BlockDAG” PoW chain, huge presale, fast mainnet, big exchange listings, “moon keynote” videos, billboards, etc. Their site currently touts $370M+ raised and rapid timelines. (BlockDAG)
- Press-style pieces echo the “$370M+ presale,” “200k holders,” “20 exchange listings locked,” and outsized ROI talk. These are promotional articles, not independent audits. (Crypto Reporter, AInvest, CoinCentral)
What’s actually verifiable (and worrying)
- Repeated launch delays. Originally June 13, 2025, then August 11, 2025—both slipped. As of today (Aug 15, 2025), articles tracking the project say there’s no new confirmed date and only a handful of exchanges named (not “20 locked”). (Cryptonews)
- Marketing spectacle > shipping. The highly publicized “Keynote from the Moon” and other big-budget promos are real, but they’re marketing assets, not proof of a working L1 or listings. (LatestLY, Cointelegraph)
- Audits are claimed, not clearly published. The site mentions audits (Halborn, CertiK), but I couldn’t find public audit reports for a custom L1; if anything exists, BlockDAG needs to link the full reports. Treat self-claims with caution. (BlockDAG)
- Presale length & scale are unusual. A presale reportedly running since late 2023 and aiming up to $600M is very long and very large—a pattern that often ends with heavy unlock selling. (Cryptonews)
- Unverified raise figures. Several analysts and trackers note the lack of on-chain proof for the headline fundraising numbers. (Crypto Daily, Cryptona)
What users are saying
- Trustpilot is split, with a significant number of 1-star “scam” reviews citing delays, aggressive marketing, and poor communication—alongside 5-star “all good” comments. That pattern itself is a red flag (astroturfing risk). (Trustpilot)
- Reddit threads are also mixed: some call it a total scam, others defend it and blame look-alike phishing sites. Mixed retail sentiment + confusion is not a healthy sign. (Reddit)
- Phishing clones exist. Security researchers flagged a fake BlockDAG presale site that drains wallets when you “connect.” Even if that’s not the official site, it shows the overall risk environment around the brand. (PCRisk)
Promises vs reality (as of Aug 15, 2025)
- 20 exchange listings “locked”? Not substantiated by the exchanges themselves; third-party writeups now mention about five names and note the missed launch dates. (Cryptonews)
- Six-month presale→mainnet timeline is touted as bold—but it’s already been missed repeatedly. (BlockDAG)
Bottom line: could it be a scam?
- I can’t label it conclusively. But the combination of (1) repeated launch delays, (2) aggressive hype, (3) unverified fundraising totals, (4) unusually long/large presale, (5) mixed user reviews with credible complaints, and (6) lack of public, detailed audits for the core tech is classic high-risk territory. If you proceed at all, treat it like money you can afford to lose. (Cryptonews, Crypto Daily, Cryptona, Trustpilot)
How I’d de-risk (if you’re still curious)
- No FOMO. Don’t buy on marketing headlines or “last batch” pricing.
- Seek third-party confirmations:
- Published audit PDFs (scope + findings) for the actual L1, not just a token.
- Exchange announcements from the exchanges themselves.
- Public testnet/mainnet repos, commits, contributors, and working nodes.
- Check on-chain flows: Can you see presale funds in verifiable wallets? Any multi-sig? Any spending?
- Withdrawal reality: If there’s any vesting/claim portal, can early users actually claim and move tokens?
- Position sizing: If you must punt, keep it tiny, assume a total-loss scenario, and avoid referrals/lock-ins.