KAITO token unlock promises appear to be unfulfilled, according on-chain investigator MLM, who claims that scheduled token releases have not materialized despite project documentation. MLM estimates that insiders control at least 90% of all KAITO tokens in circulation, raising questions about the legitimacy of unlock schedules announced by the project.
Analysis reveals that 87.96% of total KAITO supply is held in wallets connected to the project team, while only 2.5% of the token supply was transferred to the Sablier protocol—a smart contract platform designed to facilitate scheduled token releases. Despite this transfer, the tokens remain locked within the protocol and have not been distributed to recipients, contrary to unlock timelines that were supposed to begin in February according to project documentation.
The allegations emerge ahead of a scheduled unlock event this week involving 17.6 million KAITO tokens, valued at approximately $17 million. The discrepancy between announced unlock schedules and actual token distribution raises concerns about the transparency and authenticity of the project's tokenomics. MLM's findings are available on X (formerly Twitter) and have attracted scrutiny from the crypto community regarding insider control of the asset.