Overview of the 2025 Plume Network Token Crash Incident Plume Network is a modular L1 blockchain specialized in Real-World Assets (RWA) tokenization. It launched its native token PLUME through a Token Generation Event (TGE) in early 2025 (January 21, 2025). The total supply is 10 billion tokens, with an initial circulating supply of around 20-30%. It is used for gas fees, governance, staking, and more. Initially, it attracted attention with strong backing (e.g., from investors like Haun Ventures and others), significant funding, and partnerships, but by late 2025, the token price crashed sharply amid broader market sell-offs, airdrop recipient selling, and rumors (e.g., co-founder death in May 2025 leading to panic dumping). This has been analyzed as part of emerging patterns in crypto where token structures enable indirect selling pressure. Token Allocation Structure and Bypass Dumping Mechanism Plume's token allocation deviates from traditional foundation-heavy models, with a large portion (59%) dedicated to community, ecosystem, and foundation initiatives for growth. Early contributors get 20%, and early backers 21%. This appears community-focused on the surface but can create channels for hard-to-trace selling: - Direct vs. Bypass Dumping: Locked portions (e.g., team and investors) follow multi-year vesting with cliffs and monthly unlocks. However, community/ecosystem pools and airdrops (e.g., 150M tokens via Binance HODLer airdrop) allow immediate or early circulation, potentially routed through market makers (MM) or partners, bypassing direct foundation sales tracking. - New Pattern Case : The 2025 Plume incident highlights a "bypass" style where heavy community allocation disperses tokens widely (e.g., via grants, incentives, or airdrops), making dumping sources harder to pinpoint. On-chain evidence of large transfers to exchanges has surfaced in similar cases, but projects often lack full transparency on sales. - Enhanced Untraceability: Large ecosystem funds and airdrops distribute tokens broadly. Even with regulatory steps (e.g., SEC transfer agent registration), this structure can mask selling under the guise of ecosystem growth or institutional inflows. 2025 Crash Timeline and Impact - Initial Rise : Post-TGE in January 2025, price started around $0.10-0.13, surged to ATH ~$0.247 in March 2025 on hype, investments (e.g., YZi Labs), and listings. - Crash Process : Sharp drops followed events like post-airdrop selling (August Binance listing led to immediate volatility), co-founder death rumors (May 2025, ~10% drop), and November market sell-off (ATL ~$0.035, -85% from peak). By end-2025/early 2026, down over 92% from ATH, with current price around $0.017-0.019. - Investor Damage : Airdrop values diminished significantly; high TVL contrasted with price collapse, leading to holder frustration. Community labeled it harshly, criticizing project silence on issues. Exploration of New Dumping Patterns in 2024-2025: Implications from the Plume Case The 2024-2025 crypto market saw an RWA boom alongside new dumping variants. Plume exemplifies an "allocation bypass" type: - Pattern : Minimize foundation holdings + maximize community allocation → Circulation via MM/partners → Evade tracking. Similar to other 2025 projects with heavy unlocks or airdrop pressure. - Risk Factors : Even with vesting/cliffs, early releases in community pools create vulnerability. Institutional partnerships can provide cover for flows. - Lessons : Investors must track on-chain transactions (e.g., treasury movements). Projects need mandatory transparency reports. The Plume case shows how structural vulnerabilities can erode trust despite RWA market potential (projected multi-trillion scale). This incident reveals the darker side of 2025 crypto but offers valuable lessons for the long-term growth of RWAs (potential 3-5x expansion in coming years). #plume #plumenetwork #scam #fraud #chriseyin #rwafi #rwa #looping #dumping #bypassdumping

Tokenomics Fraud Alert: Plume's so-called '46% Community Fund' was a LIE. Most of those tokens were held and controlled by the Team and Chris's inner circle. @nottellingyou73 <== You will surely be hit by a car and die this year as karma for your fraud and incitement. #PlumeNetwork #CryptoCorruption #RWA #L1 #BlockchainEthics

1/ The catastrophic collapse of Plume Network ($PLUME) reveals a disturbing trend: The total disappearance of corporate ethics in the RWA sector. Here’s a breakdown of how they betrayed investor trust. 🧵👇 #PlumeNetwork #CryptoCorruption #RWA #L1 #BlockchainEthics

4/ Information Asymmetry: While the price tanked 85%, the foundation remained silent or gave vague excuses. On-chain data doesn't lie—tokens were moving while holders were told to "believe in the tech." #PlumeNetwork #CryptoCorruption #RWA #L1 #BlockchainEthics

Plume's CEO, Chris Yin, and colleagues like Teddy Pornprinya seem to want to distance themselves from tokens. They don't say a word about tokens, but only talk nonsense about Plume. In X and Discord, the team makes you feel like a fool with the tokens. Or, people who talk about tokens are treated as commoners. With a Web2 attitude toward the Web3 project, people look down on each other from above. It seems like it will ruin the project in the long run. But we'll have to wait and see. I won't delve deeper into the tokens and the project itself. Because I clearly believed in Plume with all my heart. And it was terribly wrong. So what would I know? I'm really sorry to everyone I told them to buy Plume. I am sorry to everyone in reality who thought they knew what I was saying while I was suffering billions of losses while being used as an outlet liquidity. But the most sorry thing is my family, who were so greedy and didn't fully understand the implications, overly trusting and persuading RWA products. And I feel so sorry for trusting founders who mostly didn't care about the community at all and preferred to talk about Nest or Solana expansion news rather than dealing with their token price movements. I hope for a serious competitive market. It will definitely come. I still believe that there will be projects that will be the best while also caring for the holders. There will be projects that have too much potential and support, but still have enough foresight to care for the hands that feed them. This industry is full of too many fraudulent founders who create truly great products, take care of the community, and instead of loving it, only fill their own pockets. Jeff and Hyper Liquide. I believe you will continue to thrive forever, unlike anyone else who is worse than human trash. To everyone who still holds Plume. I hope your assurance, whether it's Plume or the next token, will be rewarded. No matter how confident you are, never go all-in on one project. I have been in this industry for a long time. If you had gone all in, I would have called you a fool. That's why I am indeed a fool. What I fear the most is not losing everything. I fear that I will not be able to stand up again, recover, and become a better person. I hope Chris Yin, Teddy, and the entire Plume team will read this post and apply it to themselves. Without buybacks, incineration, or transparent communication, you will become real fools. This article is written only for holders. But maybe something here could help Chris and Teddy not to keep doing the same stupid things. A toast to the RWA coin, which has achieved the worst performance in history. It would have been better if I had just bought the meme coin. Hello, and good luck.