Mitosis Faces Rug Pull Allegations Amid Unpaid Community Rewards

South Korean Layer 1 project Mitosis is under scrutiny following allegations of a rug pull after community rewards totaling approximately $1.4 million were not distributed as promised on March 10. According to NS3.AI, the controversy arises from the founders' absence from social media since September, raising concerns among investors. The project had initiated a six-month tMITO staking program, offering participants either a 2.5x return in MITO tokens or an additional bonus. During this period, the value of MITO plummeted by 87%, dropping from a high of $0.30 to $0.03.