The price of Kinto's $K token suddenly crashed 90%, sparking accusations of a <button class="define-target" id="rug-pull">rug pull</button>. A tranche of investor tokens had just been unlocked recently, leading some to speculate that investors dumped their tokens on retail buyers.<p>However, Kinto blamed the token crash on the <a href="https://www.web3isgoinggreat.com/?id=vennbuild-discloses-bug" target="_blank">exploit that was recently disclosed by VennBuild</a>, claiming on Twitter that "we got hacked by a state actor". Venn seemed to corroborate Kinto's explanation that the crash was related to the exploit, tweeting that although they had tried to warn all vulnerable projects before publicly disclosing the bug, "Sadly the Kinto token was not found despite being vulnerable, and exploited without time to mitigate."</p><p>Kinto has announced a plan to try to fundraise to cover a $1.4&nbsp;million loss in liquidity, then create a new $K token based on a snapshot of previous token holdings.</p>

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