Kinto Token Plummets 92% Amid Suspected Exploit and Investor Unlock

The native token of modular DEX Kinto (K) collapsed to a record low of $0.5114 on July 10, shedding 92% of its value within 24 hours. The crash followed confirmation of an off-chain exploit affecting its Arbitrum deployment, though the team insists wallet and bridge funds remain secure.

Market observers note a parallel catalyst: a July 1 token unlock releasing 1.86 million investor tokens—73.6% of the total supply. With early investors reportedly entering at $10 per token, the sudden liquidity surge created intense sell pressure. Blockchain analyst HumzyTrades estimates $15 million worth of unlocked tokens hit markets as prices cratered.

Security firms Seal 911, Hypernative, Venn, and Zeroshadow are investigating the exploit. The incident has sparked rug pull accusations across crypto communities, though the team maintains the breach occurred externally to their core network.