BlockDAG investors raise concerns over missing funds and unmet promises

BlockDAG raised funds from thousands of investors worldwide, with its website claiming $442 million while its CEO says closer to $200 million was collected.

An Australian-based investor, identified as Adam, said he invested nearly $25,000 after being drawn in by heavy marketing and high-profile sponsorships.

“You just bought into it. You join these online communities. We’re all excited and talking about BlockDAG and the potential,”

Adam said.

Investors were promised specialised mining hardware, listings on more than 20 exchanges, and fixed allocations of BDAG tokens.

Many investors say mining equipment has not been delivered, token allocations were diluted, and exchange listings fell short of expectations.

Documents reviewed indicate that more than $110 million in presale funds were sent to accounts on major crypto exchanges.