PANews July 11 news, Ramon Recuero, co-founder of the Arbiturm ecological modular trading platform Kinto, stated regarding the attack incident that yesterday hackers exploited a vulnerability to mint an unlimited amount of K tokens on Arbiturm, minting 110,000 K tokens and starting an attack to drain the Morpho Vault and Uniswap v4 pool. The final loss was about $1.55 million in ETH and USDC, resulting in fluctuations in the price of K tokens.
Currently, the Kinto team has contacted relevant authorities to trace the stolen funds. If the stolen funds are traced or raised in the future, the team will restore the K token balance to the snapshot state before the hacker attack by July 31 and restart trading on CEX at the price before the attack.
