- Protection Fund
  1,000 BTC Protection Fund to safeguard your assets
- Career
  Join WEEX and build the future
- WXT Zone
  Exclusive fee rates and airdrops
- Announcement Center
  Get the latest updates from WEEX
- Elite Trader
  Share strategies and earn rewards
- Crypto Wiki
  Master trading with easy-to-follow guides
- Affiliate
  Unlock exclusive perks and high commissions
- Crypto News
  Keep up with the latest crypto trends
- Contact Verifier
  Verify the channels you use
- VIP Perks
  Become a WEEX VIP today
- Events Calendar
  Explore WEEX events around the world
Buy Crypto
- header.nav.buy
  header.nav.buy_desc
- P2P Trading
  Buy crypto with 0 fees
Markets
Futures
- USDT-M Futures
  Perpetual futures settled in USDT
- Demo Trading
  USDT-M futures demo
- About Futures
  Trade with confidence
- Leaderboard
  Current & past leaderboards
Spot
Copy Trade
WE-Launch

Scan to download
More options

Kinto Co-founder: Attack Incident Results in Approximately $1.55 Million in Losses, Funds Stolen Traced in Coordination with Authorities

By: theblockbeats.news|2025/07/11 02:42:02

BlockBeats News, July 11th, Founder of the Arbitrum ecosystem modular transaction platform Kinto, Ramon Recuero, addressed the attack incident, stating that yesterday hackers exploited a vulnerability in Arbitrum to mint an infinite amount of K tokens, minting 110,000 K tokens and initiating an attack to drain the Morpho Vault and Uniswap v4 pool. The final loss was approximately $1.55 million in ETH and USDC, causing fluctuations in the K token price.

Currently, the Kinto team has been in contact with relevant authorities to trace the stolen funds. If the stolen funds are tracked down in the future or if funds are raised, the team will restore the K token balance to the snapshot state before the hack by July 31st and resume trading on CEX at the pre-attack price.

A whale deposited 7 million USDC to Hyperliquid and went short on PUMP with 3x leverage.

Token Prices Surge on BNB Chain, BANANAS31 Up Over 110% in 24 Hours