$K TOKEN COLLAPSES AFTER ARBITRUM EXPLOIT – DOWN 87% IN 24H

Kinto’s $K token has crashed following a major exploit in its Arbitrum mint contract, allowing nearly 7M tokens to be created — far exceeding its actual supply.

🔻 Price dropped 45% in 1 hour, over 87% total

🔍 Exploit occurred off-network, not on Kinto mainnet

💼 Attacker used inflated tokens as collateral to drain USDC from Morpho

🔐 User wallets and bridge vaults remain secure

Kinto is now working with Seal 911, Hypernative, Venn, and Zeroshadow to investigate. Recovery efforts are underway.

#Kinto #DeFiExploit #Arbitrum #CryptoSecurity #SmartContractRisk