Wayfinder’s PROMPT tanks 68% amid MEV exploit targeting Kaito airdrop

Wayfinder’s newly launched PROMPT token has dropped 68% from its post-launch high amid a halt to the Kaito airdrop due to a front-run exploit that has stolen 119 ETH during the claim process.

Launched on April 9, Wayfinder (PROMPT) debuted on major exchanges, including OKX, KuCoin, Bitget, Gate.io, Coinbase, as well as Binance Alpha. However, the token’s post-launch celebration was marred by a Maximal Extractable Value exploit, where a MEV bot called “Yoink” front-runned the PROMPT airdrop to Kaito (KAITO) users, stealing 119 Ethereum (ETH).

The MEV bot targeted the Wayfinder airdrop claim contract, exploiting vulnerabilities to steal funds from users before they could claim their allocated PROMPT tokens. Users quickly flagged the exploit, and the TokenTable team, which manages the airdrop, paused the process to address the issue. The team has promised full compensation to affected users, including reimbursement for gas fees and any stolen tokens. According to the team, the underlying smart contract remains secure, with the exploit attributed to the MEV bot and not an issue with the contract itself.

The PROMPT airdrop to Kaito users was part of Wayfinder’s broader token distribution strategy, which earmarked 40% of the total PROMPT supply to the community. This includes 39% for stakers of the PRIME token, 1% for free sign-ups, and a 5 million PROMPT allocation for Kaito AI’s Social Mission program.

As part of this program:

• 4 million PROMPT tokens were allocated to eligible Emerging Yappers who earned over 90 Yaps but had fewer than 1,100 smart followers, to account for follower slippage during the program.
• 1 million PROMPT tokens were allocated to Emerging Yappers who earned fewer than 90 Yaps but more than 0 Yaps, as a reward for their efforts throughout the program.
• A 30% booster reward was also given to eligible KAITO holders.

Meanwhile, PROMPT price is continuing its post-launch downfall, currently trading at $0.18, marking a 26% drop in the past 24 hours and a 68% decrease from its all-time high of $0.59 set after the token’s launch on April 10.