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Kinto has announced that it will shut down on September 30, having suffered an attack in July resulting in a loss of approximately $1.55 million.
By: theblockbeats.news|2025/09/08 08:12:37
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BlockBeats News, September 8th: Arbitrum ecosystem modular transaction platform Kinto suffered a smart contract attack in July, losing 577 ETH worth about $1.55 million, and announced that it will shut down on September 30th. Its founder, Recuero, promised to compensate some of the victims of the hack after Kinto closes. According to Recuero, all remaining foundation assets will be returned to the loan providers of the "Phoenix" plan, who will recover 76% of the loan principal. Recuero also pledged to allocate $55,000 of personal funds to compensate victims of a hacker attack on the Morpho platform, with a maximum of $1,100 per address.
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