💥 Instant Crash, Insider Dumping
Launched with $200K in liquidity, the GPUNET token plummeted over 80% almost immediately. On-chain data points to wallets tied to the GPUNET team as the primary dumpers, signaling that the price crash wasn’t a market reaction — it was a calculated extraction of value from unsuspecting buyers.
Even more damning, multiple Twitter investigations (including this thread) have surfaced direct links between insider wallets and the post-launch dump, suggesting this was never a real launch — it was a cash grab with blockchain receipts.
⛓️ Presale Buyers Used as Exit Liquidity
Those who believed in the project early and participated in the presale — which dragged on for over a year — were denied access to bridge their tokens until after launch. This delay gave insiders an unfair head start to dump their tokens onto open markets, leaving presalers helpless.
As one outraged user put it:
“We waited a year just to be exit liquidity.”
According to another damning tweet, over 90% of buyers weren’t even eligible due to faulty mechanics, meaning the few who could participate were essentially set up as liquidity targets for the team.
🐞 Broken Product After Years of Development
Despite years of hype, GPUNET's actual product is a non-functional mess. Users report critical bugs, broken UI, and constant errors connecting wallets. For a project that promised GPU infrastructure for Web3, there’s nothing tangible — just a buggy dApp and empty promises.
🔓 Token Unlocks Looming — More Pain Ahead?
Even with prices in freefall, more pain may be coming. Team and VC tokens are scheduled to unlock soon, raising alarms that another massive dump is imminent. With no roadmap and no sign of leadership accountability, many believe this launch was just phase one of a long-con.
🗣 Community Backlash: “Rugged Brutally”
Prominent Web3 voices aren’t mincing words. @TheDefiApe posted a viral summary:
“The Indian dev of @gpunet brutally rugged 😂 Team dumped upon launch, price down 80%+ Presalers only allowed to bridge after the launch — so the team could dump on them. More team and VC tokens unlocking soon!”
Another user compared it to previous scams, warning:
“After @layeredge scam, another one: @gpunet… 90% users not eligible. Both are Indian projects. Next time you see a founder from #India, just run away.”
While that last comment sparked controversy, it reflects growing skepticism in the community over anonymous teams launching unaudited projects, especially when they exploit national identity as a marketing tool.
⚠️ A Template for Exploitation
GPUNET has checked all the boxes of a textbook rug pull:
🚫 No functioning product
🚫 Presale mismanagement
🚫 Insider dumping
🚫 Zero transparency
🚫 No external audits
The project’s fall from grace highlights an urgent need for better due diligence in the space. For those still holding GPUNET tokens, the writing may already be on the wall.
🚨 Final Word
Avoid GPUNET. Demand audits. Don’t become exit liquidity. Crypto is still the Wild West — and GPUNET just fired another warning shot.