Kaito team accused of dumping tokens using inside information

The team behind Kaito, an AI-based Web3 information platform, is facing allegations from multiple crypto communities of dumping KAITO tokens using inside information. The accusations center on claims that the team had advance knowledge of X's policy change to ban "InfoFi apps" and the subsequent shutdown of its own "Yapping" service, which rewarded users with tokens for posting about the project on X. Crypto influencer vasucrypto, who has approximately 29,000 followers on X, claimed that a Kaito team-affiliated address beginning with 0x049 deposited five million KAITO to Binance seven days ago, likely for the purpose of selling. The influencer also noted that 1.1 million KAITO, the largest single amount ever, is scheduled to be unstaked tomorrow. Given that the unstaking process takes seven days, vasucrypto suggested the team may have initiated the withdrawal after learning about the X policy change and the impending shutdown of its reward service. Further fueling the speculation, the South Korean crypto-focused Telegram channel "Dopamine Research Institute" pointed out that other InfoFi platforms also appeared to have prior knowledge. The channel stated that another platform, Pulse, reportedly received a policy violation notice from the X team on Dec. 3 of last year, and that platforms like COOKIE issued announcements immediately following X's API policy change. Kaito officially announced the termination of its "Yaps" service early yesterday, after which the KAITO token's price fell by approximately 20%.