BlockDAGs Exhibits and Criminal Acts.pdf

gethonked 0 views 54 slides Oct 13, 2025
Slide 1
Slide 1 of 54
Slide 1
1
Slide 2
2
Slide 3
3
Slide 4
4
Slide 5
5
Slide 6
6
Slide 7
7
Slide 8
8
Slide 9
9
Slide 10
10
Slide 11
11
Slide 12
12
Slide 13
13
Slide 14
14
Slide 15
15
Slide 16
16
Slide 17
17
Slide 18
18
Slide 19
19
Slide 20
20
Slide 21
21
Slide 22
22
Slide 23
23
Slide 24
24
Slide 25
25
Slide 26
26
Slide 27
27
Slide 28
28
Slide 29
29
Slide 30
30
Slide 31
31
Slide 32
32
Slide 33
33
Slide 34
34
Slide 35
35
Slide 36
36
Slide 37
37
Slide 38
38
Slide 39
39
Slide 40
40
Slide 41
41
Slide 42
42
Slide 43
43
Slide 44
44
Slide 45
45
Slide 46
46
Slide 47
47
Slide 48
48
Slide 49
49
Slide 50
50
Slide 51
51
Slide 52
52
Slide 53
53
Slide 54
54

About This Presentation

BlockDAG Evidence File: The 54-Page Document They Don't Want You to See

Here's what separates a legitimate crypto project from a sophisticated extraction scheme: documentation.

IMPORTANT: WE WILL ONLY DELETE THIS IF YOU DELIVER ON TOMORROWS AMA!

This isn't speculation. This isn't ...


Slide Content

Evidence
BlockDAG Fraud, Deception, and Criminal Acts


1. DECEPTIVE OR FALSE PRESALE PERFORMANCE NUMBERS

COMMENTARY
The community are convinced that the sales numbers that are being published are false. Total
amount raise (approx. $410m), or the total BDAG coins sold (26bn) are false, or possibly both.


Screenshot: BlockDAG Purchasing Dashboard (Token Holder Interface) – September 2025

Tokenomics for the project are as follows:

As can be seen, a total of 50bn BDAGs (33.33%
of total supply) have been allocated for sale
during the pre-sale.




The dashboard states that $406m had been raised through the sale of 26bn tokens.

It has become clear that one (or both) of these numbers are false.
Reported Sales: 1 July to 21 September: approx. $100m
Average Sales Price (effective after bonuses) $0.0016 / BDAG
 Coins Sold During this period: 62.5bn


Furthermore - Based on the above, BlockDAG states on their website that they sold $40m in the
“last month”. The average price was $0.0016.
Total BDAGs sold = $40m / 0.0016
= 25bn BDAG tokens sold in the last month.

ACCORDINGLY – IT IS CLEAR THAT EITHER THE SALES FIGURES ARE FALSE, OR THE # OF
TOKENS SOLD IS FALSE (or both).

2. MISLEADING ASSERTION OF BDAG LISTING PRICE

COMMENTARY
BlockDAG repeatedly values BDAG holdings at the future (possible) listing price of $0.05 which
gives a false impression of future value.
Their CEO has mentioned that $0.05 is a price that the project team “hopes” or “would like to”
list at, whereas the marketing repeatedly implies that the project will list at this value, and that
investors would be able to sell at this price as well.

3. POSSIBLE FINANCIAL MIS-MANAGEMENT OF INVESTOR
FUNDS

COMMENTARY
In spite of collecting more than $400m there has been no transparency with the token holders in
terms of
1. the use of funds
2. any high-level accounts / books
3. what proportion of funds are available
4. where the funds are stored, how they are secured
5. whether they are invested, and if so, what are the risks
These questions should be answered by the team to give comfort to the token holders.
As a bare minimum an reasonable investor, and any regulator would expect that, as a minimum,
BlockDAG would exercise considerable care and diligence in managing these funds, which
would include:
➢ full accounting
➢ no co-mingling of token holder funds with the business
➢ an extremely high level of security in place
The community is not aware that any of the above is in place.
Furthermore, the inability of BlockDAG to pay the Euro 2m sponsorship fees to Borussia
Dortmund in August 2024, after having raised more than $100m is extremely worrying.
IF THE PROJECT COULD ACCOUNT FOR ALL THE CASH RAISED, AND HAD THE RIGHT
GOVERNANCE IN PLACE, THEN THERE IS NO REASON WHY IT WOULD NOT PROVIDE
COMFORT TO THE COMMUNITY BY PROVIDING A PROOF OF FUNDS.

3.1. PAYMENT ISSUES – BORUSSIA DORTMUND

Possible Fraud?

It appears that one of the payment proofs had been edited. It is not possible to know for sure
whether this is proof of fraud, but it certainly should be investigated.

3.2. PAYMENT ISSUES – INTER MILAN SPONSORSHIP

4. QUESTIONABLE BONUS TACTICS PREJUDICE EARLY
INVESTORS

COMMENTARY
The pre-sale was designed with a pre-determined price that escalates from $0.001 up to $0.05
at the end of the presale. For the first few months this pricing mechanism was successful.
However around September 2024 BlockDAG started introducing bonuses to incentivise
additional investment. Starting at 50%, these bonuses increased steadily through a multitude of
promotions.
The current level of bonus being offered is 2049%.
In parallel there are a number of other promotions or incentives that exacerbate the situation
even further, leading to an effective token sales price considerably lower than the current level.
These incentives include:
(a) a referral incentive (approx. 10%)
(b) a buyer battle, where every day an allocation of BDAG is set (currently 50 million) and
any shortfall between this allocation and the actual sales is then won by the biggest
buyer from the day.
The effect of these massive bonuses is that early investors that invested when the project was at
an earlier (and more risky) stage, paid considerably more than people investing now. This

6. AGGRESSIVE PROMOTIONAL & SALES TACTICS

COMMENTARY
Most jurisdictions do not permit aggressive sales tactics to the retail public, which is exactly
what BlockDAG does.
BlockDAG uses extremely aggressive hype and FOMO (fear of missing out) to target
unsophisticated retail investors into the pre-sale.
Very little of the marketing contains sufficient or satisfactory risk notices to warn the reader of
the risks involved in the BDAG token.

7. LACK OF REGULATORY COMPLIANCE

COMMENTARY – MiCA Compliance
The BlockDAG CEO has made a statement that it is pursuing MiCA regulatory compliance,
which would involve a process of registering with a “home state” in the EU, and publishing a
MiCA compliant White Paper.
This has not been done.
Many of the actions taken by the project are in director contravention of the MiCA requirements.
Furthermore, no refund is offered by BlockDAG, which is another of the requirements of MiCA.

COMMENTARY – FCA Compliance
There is no evidence that BlockDAG (DAG systems) is FCA licensed. In this case, the only
alternatives to being FCA compliant is:
a) To block any visitors with a UK IP address from accessing the BlockDAG website. There
is an informational IP block in place, but this is not sufficient
b) Work with an FCA Authorised approver to review and approve all marketing that is
accessible to UK residents
Based on the marketing tactics used to promote the presale it is unlikely that an FCA Authorized
approver is being used.
FROM THIS IT IS CLEAR THAT BLOCKDAG IS CURRENTLY IN CONTRAVENTION OF THE FCA
REGULATIONS.

COMMENTARY – MAS (Singapore) Compliance
BlockDAG has recently withdrawn from the Token2049 event in Singapore. The reason given is
that the MAS does not permit presales.
Although not as simple as this, it does imply that BlockDAG does not seem to be authorised to
promote its presale publicly in Singapore.

COMMENTARY – Saychelles VASP Compliance
In January the new regulations came into effect in the Seychelles. The result of this is that
BlockDAG (DAG Systems Ltd) was flagged as being in contravention of the new VASP
regulations.
As a result of this, it is clear that BlockDAG chose to relocate their company to Samoa, rather
than have to go through licensing. THIS IS A SERIOUS CONCERN AS IT SHOWS THAT
BLOCKDAG IS RUNNING FROM REGULATION. THE QUESTION IS “WHY?”

https://fsaseychelles.sc/media-corner/regulatory-updates/warning-unauthorised-activity-
under-the-virtual-asset-service-providers-act-2024

8. QUESTIONABLE SPONSORSHIP ACTIVITIES

8.1. Borussia Dortmund Sponsorship

COMMENTARY
During August 2024 BlockDAG announced a sponsorship with Borussia Dortmand. However, it
appears that although the sponsorship deal was signed, it was never fully concluded.
Approximately 2-3 weeks after the first announcement all logos etc were removed from both
parties’ websites.
From the letter from the club (see below) it appears that the sponsorship was never paid for.
Further correspondence retrieved from public sources seem to indicate that BlockDAG was
unable to make payment, and the CEO Antony Turner was not control of the company funds and
was requesting that the UBO make payment.

8.2. Inter Milan – Sponsorship.

BlockDAG signed a sponsorship agreement with Inter Milan around August 2024.



In-country promotions:
The sponsorship appears to have included IP usage rights as well as some in-stadium (ie in-
country) rights, including VIP tickets, SWAG, as well as advertising displays along the side of the
field.

8.3. Continued Promotion of Sponsorship more than 2 months after
termination
Since the end of the 24/25 football season it appears that BlockDAG no longer has a
sponsorship agreement in place. BlockDAG was removed as a partner from the Inter Milan
website sometime in early July.
However, BlockDAG continues to use the clubs IP, and continues to imply that it has a valid
sponsorship agreement in place.

9. FALSE CLAIM: Worlds First DAG Chain

COMMENTARY
This claim is false as there are many DAG based blockchains.

https://coincentral.com/blockdag-vs-cardano-what-makes-this-newcomer-the-top-crypto-to-
watch/

10. MISLEADING STATEMENTS: BlockDAG Launching Soon

COMMENTARY
BlockDAG repeatedly releases misleading promotions or marketing statements that are cleverly
worded to mislead investors into believing that BlockDAG is launching on a certain (imminent)
date. This has happened a number of times, the latest one being a perceived launch date of 11
th

August 2025.
This trick appears to be very effective as the sales seem to increase considerably leading up to
the “so called” launch.


https://coincentral.com/blockdag-vs-cardano-what-makes-this-newcomer-the-top-crypto-to-
watch/

11. MISLEADING STATEMENTS: Listing on 20 exchanges

COMMENTARY
BlockDAG repeatedly releases false statements saying that it has secured listings on 20
exchanges, which is false.
It seems to have only secured listings on 5 exchanges.



21/09/2025


EMAIL BLAST

12. POTENTIALLY FRAUDULENT COMPETITIONS

COMMENTARY
BlockDAG has run a number of extremely high value competitions – totalling around $5m. Even
though “winners” were announced, the overwhelming impression from the community is that
the prizes were never awarded, or, if they were, the amounts were far less.
This is a project that makes every effort to create promotional PR / Videos / Articles / Pictures
out of almost any event. However, in the case of these competitions there was never any
interviews with any winners. Furthermore, for the later competitions there were no
confirmations from any winners on socials / chat etc.
Furthermore there were quite a few complaints in the chat channels that instead of receiving
their prizes in USDT they were paid in BDAGs. This represents a change to the terms of the
competition.
Note also that none of the competitions had any terms published – this allowed BlockDAG to
change the rules midway.
IT IS THE STRONG VIEW THAT THESE COMPETITIONS NEED TO BE AUDITED TO ENSURE THAT
THE WINNERS ARE REAL AND THAT PRIZES WERE ACTUALLY PAID.

12.1. $1m Giveaway

12.2. SUMMER RAFFLE - $2m

This is an email sent to one of the winners. As can be seen, although the competition states that
the prize will be in USDT, the winners were actually paid in BDAG.

12.3. $1 MILLION GIVEAWAY

12.4. NEW YEAR RAFFLE - $1m





12.5. 10 BTC RAFFLE

Facebook Post: https://www.facebook.com/61557699651392/posts/congratulations-blockdag-
10-btc-auction-winners-revealed-an-incredible-10-bitcoi/122207321120256655/

12.6. 100 ETH RAFFLE

13. MISLEADING PROMOTIONS: Early Vesting

COMMENTARY
The BlockDAG presale is one endless string of promotions, sometime with two or even three
running concurrently.
The overall these of the promotions are to entice people to invest, generally through either
bigger and bigger bonuses, or lower prices.
One of the latest promotions (“NOVESTING”) that directly contradicts the stated project
tokenomics is an opportunity for investors to bypass the normal presale token lockups.
IT IS THE VIEW OF THE AUTHOR THAT THESE TYPES OF PROMOTIONS ARE EXTREMELY
DAMAGING TO THE PROJECT.
However, investors are misled to believe that if they invest using this promotion that ALL
previous purchased coins will also benefit from the NOVESTING promo, which is not the case.



As can be seen above, it would seem that the NOVESTING applies to ALL coins held.

This is confirmed again in the second dialog.
However, this is not the case as it only applies to “Non Bonus” tokens.

EMAIL BLAST: 20
th
July 2025

14. MISLEADING PROMOTIONS:

COMMENTARY
These promotions were made to investors, yet these investors have been unable to claim any of
the benefits. The BlockDAG support have not been able to assist.

15. MILEADING STATEMENTS: PRESALE ENDING SOON

COMMENTARY
The BlockDAG presale is also one endless string of promotions implying that the presale is
ending soon. This has the effect of incentivizing people to buy as they believe this is the last
opportunity.

EMAIL BLAST:

16. FALSE STATEMENTS: MINERS STARTED TO BE DELIVERED

COMMENTARY
BlockDAG has pre-sold physical miners – the X10, X30, and X100.
The X10 has started to be delivered in very minimal quantities (est 200), but there is no sign that
any X30 or X100s have been delivered.

EMAIL BLAST

SPONSORED ARTICLE: https://punchng.com/4-top-presale-crypto-coins-to-buy-now-
blockdags-0-0013-deal-ends-in-24-hours/

BLOG ARTICLE ON BLOCKDAG WEBSITE: https://blockdag.network/blog/can-blockdag-reach-1-
forecasting-the-revolutionary-coin

17. MISLEADING PRICE INCREASE ANNOUNCEMENTS

COMMENTARY
Every promotion includes a countdown clock. The marketing team also normally implies that
the price will be going up after the end of the promo, and that this low price will never be
available again.
This is completely false advertising, as generally each promo is followed by a lower (not higher)
price.


EMAIL BLAST: JUNE 26
TH
– Stating Price Increase to $0.08


EMAIL BLAST: JULY 1st – PRICE at $0.0016

18. ILLEGAL FUTURE PRICE & PERFORMANCE PROJECTIONS

COMMENTARY
One tactic used by the marketing team to create hype and FOMO is the release price
predictions, or imply that the investor will make a very good return (ROI).

SPONSORED ARTICLE: https://blockchainreporter.net/blockdag-vs-eth-sol-ada-which-one-is-
the-top-crypto-to-buy-in-2025/

SPONSORED ARTICLE:
https://coinmarketcal.com/es/news/blockdags-30-000x-roi-potential-becomes-tough-
competition-for-newcomers-dogecoin20-sponge-v2-and-crypto-giants-bitcoin-ethereum-

SPONSORED ARTICLE: https://punchng.com/4-top-presale-crypto-coins-to-buy-now-
blockdags-0-0013-deal-ends-in-24-hours/

https://techpoint.africa/2024/09/14/premier-league-power-play-blockdag-network-eyes-
30000x-gains-as-xrp-aptos-stumble/

https://techpoint.africa/2024/09/13/blockdags-ama-boom-whales-move-in-30000x-returns-
ahead-plus-a-look-at-cardanos-future-atoms-decline/

https://timestabloid.com/blockdags-road-to-30-begins-with-upcoming-testnet-launch/


https://financefeeds.com/blockdag-crowned-top-altcoin-of-2024-by-yahoo-finance-fox-news-
cardano-icp-predict-bearish-
sentiment/#:~:text=Yahoo%20Finance%20Honors%20BlockDAG%20as%20'Top%20Altcoin%2
0of%202024'&text=This%20recognition%20highlights%20the%20project's,to%20get%20excite
d%20about%20again.

https://medium.com/@BlockDAGNetwork1/history-is-in-the-making-here-at-blockdag-
network-10-million-raised-in-72h-04d6cae9df8c

19. FALSE ADVERTISING CLAIMS – Cont.

https://www.thecoinrepublic.com/2024/04/02/blockdag-celebrates-with-massive-display-on-
vegas-sphere-as-presale-hits-12m-amid-xrps-legal-uncertainty-mkr-forecast/

20. DISSATISFIED INVESTORS FEEDBACK