A real buyback removes the holder's tokens from circulation and gives them value. BlockDAG's buyback does the opposite: it requires the holder to add new tokens, then buys back only those. The coins you are trying to escape stay exactly where they are. On June 5 enough holders compared notes to prove it.
The 10 percent rule
The first piece is a pop-up that appears when a holder tries to register for the buyback. Crypto Rich, a holder since the 2024 presale, described it at 07:38 UTC:
"It tells you with a pop-up window that you need to purchase at least 10% of your prior balance to be eligible for buyback." — Community member Crypto Rich, June 5, 2026, 07:38 UTC.
So before you can sell anything back, you must spend more money. That alone would be aggressive. The second piece is what makes it circular: only the newly purchased coins become sellable. Crypto Rich spelled out his own case at 09:42 UTC:
"I bought presale tokens 2 years ago, only 81k BDAG. I purchased 107m BDAG yesterday for 10% of my original purchase amount to make me eligible for buyback. Then the 107m that I purchased yesterday was eligible to be sold right away." — Community member Crypto Rich, June 5, 2026, 09:42 UTC.
Read that sequence carefully. He paid fresh money for 107 million new BDAG. The buyback then let him sell those same 107 million back. His original 81,000 presale coins, the ones he has been holding for two years, remained untouched and ineligible. The "buyback" never touched the position he wanted to exit. It is a loop: put new money in, take a portion of that same new money back out, and call the round trip a return.
The balance that shows zero
For many holders the loop does not even complete. Across June 5, person after person reported buying specifically to use the buyback and then finding a dashboard balance of zero. Hillbilly Hitman, 00:52 UTC:
"Bought $250 today to try out the .01 buyback. I know this is shocking but it isn't working." — Community member Hillbilly Hitman, June 5, 2026, 00:52 UTC.
SaltyDogCoin: "I bought on June 1st and June 4 for the buyback, and zero is available, again." Eric A: "I already bought and qualified for 0.01, why is my available balance 0?" The lived experience was summarised, with dark humour, by Logan J. Williams at 07:20 UTC: "Whatever you bought is not eligible to be for the buy back, keep buying to increase your chances to be eligible." The instruction holders kept receiving was always the same direction: buy more.
The qualifying date that keeps moving
Part of why so many balances read zero is that the qualifying date has now shifted three times, and each shift retroactively disqualifies the purchases people made to satisfy the previous one. First it was "buy before June 1." Then "June 1 and everything after." By June 5 only purchases after June 3 counted. L.Veiga, 03:45 UTC:
"I bought on June 2 because the balance purchased after June 1st could be sold for $0.01. Now I can't sell it? Only if it was purchased after June 3rd? The people who have believed in the project from the beginning are going to have less advantage?" — Community member L.Veiga, June 5, 2026, 03:45 UTC.
Logan J. Williams, relaying the dashboard rules at 07:55 UTC: "There's a new buyback structure, the June 1 promo is no longer effective it's all gone." Every holder who bought during the June 1 window to qualify now has to buy again to qualify under the June 3 window, and there is no guarantee that window will not move too. Noname, 08:12 UTC: "Are the terms going to change again soon? It's a long time until October 1st."
The price that doubled overnight
While the buyback was failing to function, the sale attached to it got more aggressive. Less than 24 hours after the Legacy Sale launched at $0.00000044, the official channel doubled the entry price and re-marketed the whole thing as a guaranteed multiple, 00:29 UTC:
"Sell your coins at $0.01 — BUY NOW Legacy SALE at $0.00000088 | 56X ROI. Legacy Sale Price: $0.00000088. 56X ROI. 6 MONTHS. Buyback Price: $0.01 per BDAG. Uncapped Daily Sell Limits. Meanwhile, existing holders can participate through the Buyback Program at $0.00025 per BDAG." — BlockDAG official channel, June 5, 2026, 00:29 UTC.
A "56X ROI" is not a description of an asset. It is a promise to pay buyers fifty-six times their money in six months, from a project whose own on-app market is worth a few million dollars and which has spent two years unable to pay football sponsors. Holders did the arithmetic in real time. STAS, 06:29 UTC:
"They offer now to buy about 56 millions of BDAG only for 42 USDT and later they will buyback with price 0.01. It will be worth 560,000 USDT. How is this possible, even a huge bank doesn't give you a profit like this for the 4 months period." — Community member STAS, June 5, 2026, 06:29 UTC.
Mark, 08:44 UTC, asked the question that answers itself: "You want us to buy it for 0.0000008 and sell at 0.01, it's a complete lose for you. How will you be able to give so much money to everyone and what liquidity you have to run the coin afterwards?" The only way a 56x payout can be funded is from the next buyer's deposit. That is the definition the project keeps circling.
Two tiers, two classes of holder
Notice who gets which number in that same announcement. New Legacy Sale buyers are quoted a buyback of "$0.01 per BDAG." Existing holders are quoted "$0.00025 per BDAG," forty times less. The people who have funded BlockDAG since 2024 are explicitly named the "legacy" and routed to the worst tier, while the headline rate is reserved for fresh deposits. Dexter, a 2024 holder, 06:55 UTC: "I'm here from 2024, what I bought during 2024 can be bought by another person for 0.0001% of what I spent at that time." Sakunthala put the human number on it, 00:22 UTC: "i bought BDAG for 26k, why are you telling me to sell for 5k at buyback. What kind of buyback is this?"
How the June 5 buyback actually works
- To qualify: buy at least 10% of your prior balance in NEW BDAG.
- What is eligible: only the new coins you just bought. Your old presale holdings do not count.
- New Legacy buyers: quoted $0.01. Existing holders: quoted $0.00025, 40x less.
- Entry price: $0.00000088, doubled from $0.00000044 the day before.
- Payout: deferred to October 1, 2026, in BDUSD, the project's own "Beta" stablecoin.
- Reported result: many holders who paid see an eligible balance of zero.
What we are watching next
Four things. First: a single verified, on-chain buyback completion, BDAG sent and real value received, by any holder. None has yet been documented despite thousands of registrations. Second: whether the qualifying date moves a fourth time before October. Third: whether the $0.00000088 entry price doubles again, as it did between June 4 and June 5. Fourth: whether holders who sent BDAG to the buyback wallet can recover it if the October payout slips, as every prior BlockDAG date has.
Our advice is unchanged and, after June 5, sharper: a "buyback" that requires you to buy new coins, only buys back those new coins, keeps moving the date that makes them eligible, and shows zero in the dashboard when you comply, is not returning your money. It is collecting more of it. Document every transaction. Do not send tokens you cannot afford to lose.