Plasma’s rapid ICO cap fill triggered a gas war, with whales paying high Ethereum fees to secure early access, drawing criticism and unverified accusations of manipulation

Claim

Quotes that support claims

The Plasma XPL token sale just raised $500M in 5 minutes That’s 10x oversubscribed. One guy spent $100K on gas, just to get in.
Plasma instant cap fill today is a gigantic beacon signaling meta shift,” pseudonymous trader IcoBeast wrote on X.
The rush to deposit caused a “gas war” that saw whales incentivized to spend large amounts of gas to make sure they were included in the earliest block possible for this allocation.