Kinto will Cease Operations After Smart Contract Attack in July
According to BlockBeats, the modular trading platform Kinto, part of the Arbitrum ecosystem, was attacked through a smart contract in July, resulting in a loss of 577 ETH, worth approximately 1.55 million dollars. The platform has announced it will cease operations on September 30. Founder Recuero has committed to compensating some victims affected by the attack after the platform shuts down. He stated that all remaining fund assets will be returned to the lenders participating in the 'Phoenix' program, allowing them to recover 76% of their loan capital. Additionally, Recuero has pledged $55,000 from his personal fund to compensate victims of the attack on the Morpho platform, with a maximum of $1,100 for each address.