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This article separates those claims from the evidence, explains what a June 2024 comparison would require, summarizes the U.S. Securities and Exchange Commission’s warnings about presales, and covers the custody questions a buyer must answer. The figures describe the sale as of June 12, 2024. This article does not address what happened to the sale or its token afterward.
What BlockDAG’s figures actually are
Each number in the headline traces to a specific source, and the table shows how much weight each one can bear.
| Claim | Who made it and when | Status |
|---|---|---|
| Presale raised over $50 million | BlockDAG Network, press release distributed by GlobeNewswire, June 12, 2024 | Company-reported. Not independently verified. |
| Presale pace of $500,000 per day | Same release, June 12, 2024 | Company-stated pace on one date. Not independently audited. |
| BlockDAG “dominates” June 2024 presales | Headline wording. The release does not rank BlockDAG against competing projects. | Not established |
| “Record-breaking” presale | Headline wording. No comparable June 2024 benchmark is available. | Not established |
The same release also instructs prospective participants to fund a wallet, which makes the custody questions later in this article directly relevant to anyone who acted on it.
Why a June 2024 ranking cannot be built from this evidence
A “top presales” list only means something when every project is measured the same way. Three gaps prevent that here:
- No independent leaderboard or published dataset comparing June 2024 presale totals across projects has been identified.
- No on-chain receipts for the $50 million figure are available to readers, so the number cannot be traced to money actually received.
- Other projects’ totals, where they exist, are also company claims measured on their own terms. Placing them side by side compares unlike numbers.
A ranking assembled from press-release totals is a marketing comparison, not a measurement.
How to compare presales on the same basis
If you are weighing any presale, these six questions would make a comparison meaningful. A headline total answers none of them.
- Measurement date and method. Raised totals should be stated as of the same date and drawn from the same kind of source, such as an audit or on-chain records.
- Independent verification of proceeds. Check whether anyone other than the project has confirmed how much money came in.
- Token allocation and sale terms. Look for a published breakdown of how much supply is sold, at what price, and how much remains with the team.
- Delivery. Look for evidence that the product or network the token is meant to support is live, not only planned.
- Liquidity, transfer and lockup conditions. Find out when tokens can be transferred or sold, and whether a lockup applies.
- Custody and network compatibility. Confirm which wallets and networks the token works on before sending funds.
The available material is not enough to score BlockDAG against other June 2024 offerings on these points.
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What regulators say about presale hype
- SEC investor alert, May 29, 2024. The alert describes crypto scam tactics that include presale hype. It warns that hype can be used to pump an asset before promoters sell, potentially followed by a rapid price decline, and that recovering money lost in such schemes can be difficult. It is general investor context, not an allegation about BlockDAG.
- SEC alert on crypto asset securities, March 23, 2023. The agency describes these assets as speculative and volatile. It lists illiquidity, opaque ownership, technical failures and limited investor protections among the risks. It does not assess any individual project.
Custody: where the tokens sit after a purchase
The SEC’s custody bulletin, dated December 12, 2025, states the basic point directly: “Crypto wallets do not store crypto assets themselves; instead, they store the ‘private keys’ or passcodes for your crypto assets.” The bulletin represents staff views and is not a Commission rule or regulation. It was published after the June 2024 events, so it explains how custody works today. It is not evidence of how BlockDAG handled its funds.
The bulletin also covers the main trade-off between the two broad custody options:
- Hot wallets are connected to the internet.
- Cold wallets, including physical hardware devices, keep private keys offline. That can reduce some online exposure, but it brings convenience costs and the risk of physical loss.
Whoever holds the private keys controls the assets, so losing them can mean losing access. Before sending money, confirm that a wallet you control supports both the token and its network. No available evidence confirms that any particular device supports BDAG, so check the project’s own documentation and the wallet provider directly.
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