Kinto Token Crashes to Record Low Amid Suspected Exploit
2025-07-10 20:16:08
Main Idea
The native token of Kinto (K) experienced a drastic 92% drop in value within 24 hours due to an off-chain exploit and a sudden increase in circulating supply, leading to accusations of investor dumping and widespread market chaos.
Key Points
1. Kinto's token (K) plummeted nearly 92% in 24 hours, hitting an all-time low of $0.5114 on July 10, following an off-chain exploit tied to its Arbitrum deployment.
2. The exploit impacted firms Seal 911, Hypernative, Venn, and Zeroshadow, with 73.6% of investor tokens (1.86 million) unlocked, doubling the circulating supply.
3. Analysts estimate at least $15 million worth of K tokens were unlocked at the end of June, with accusations that early investors dumped their holdings during a bullish market.
4. The token's price crashed from $8.12 to under $1, with volatile swings, and its market capitalization dropped to just $925,886 amid $2.8 million in trading volume.
5. Community sentiment turned negative, with influencers labeling Kinto a 'scam,' while a CertiK report highlighted that crypto projects lost $620 million in Q2 2025 due to security vulnerabilities.
Description
The native token of Kinto (K), a modular decentralized exchange (DEX), has imploded, dipping nearly 92% in 24 hours after the project confirmed an off-chain exploit tied to its Arbitrum deployment. K’s price hit a new all-time low of $0.5114 on July 10, triggering widespread panic, accusations of mismanagement, and claims of a “rug pull” across the crypto community. Investor Unlock Flood or Exploit? The official Kinto X account confirmed the incident, stating: “an exploit has happened OFF the Ki...
Latest News
- Rare Flip: Ethereum’s $62.1B Futures Volume Tops Bitcoin’s $61.7B2025-07-11 03:37:55
- GMX Hacker Converts Stolen Loot into 11,700 ETH2025-07-10 22:23:36
- Bitcoin Price Tops $116,000, Massive Short Squueze Approaches $1 Billion2025-07-10 22:10:53
- Kinto Token Crashes to Record Low Amid Suspected Exploit2025-07-10 20:16:08
- Bitcoin Blasts to New ATH Above $113K, Leaving $600M in Liquidations2025-07-10 17:19:17