Wayfinder’s PROMPT Token Post-Launch Struggles
Following the launch of Wayfinder’s PROMPT token on April 9, the newly introduced cryptocurrency has suffered a significant downturn of 68%. This decline was triggered by an exploit that targeted the Kaito airdrop, resulting in a theft of 119 ETH.
Initial Excitement and Subsequent Exploit
The token made its debut on several prominent exchanges such as Binance Alpha, OKX, KuCoin, Bitget, Gate.io, and Coinbase. However, the excitement surrounding its release was quickly overshadowed by a Maximal Extractable Value (MEV) exploit implemented by an MEV bot named “Yoink”. This bot executed a front-run attack during the Kaito airdrop claim process, allowing it to siphon funds from users prior to their ability to claim the PROMPT tokens they were entitled to.
“The exploit compromised user funds, but the integrity of the underlying smart contract remains intact.”
Reports of the exploit quickly surfaced, prompting the TokenTable team, responsible for the airdrop’s management, to suspend the distribution to rectify the situation. In response, they assured that all affected users would receive full compensation, including reimbursement for any lost tokens and associated gas fees.
Objective of the Kaito Airdrop
The Kaito airdrop was designed as part of Wayfinder’s strategy to allocate 40% of the total PROMPT supply to community members. This includes:
- 39% for PRIME token stakers
- 1% for those who signed up for free
- A dedicated allocation of 5 million PROMPT for Kaito AI’s Social Mission initiative
Current Market Status
Currently, the PROMPT token is trading at $0.18, reflecting a 26% decline over the past day and a stark drop from its peak of $0.59 reached shortly after launch on April 10.
