Kinto ($K) Emergency Alert – Token Exploited, Price Crashes ~90%
@KintoXYZ confirmed that $K suffered a major exploit off its main network—via Arbitrum's token mint contract—allowing hackers to mint 110K+ unauthorized tokens and drain liquidity from Uniswap v4 and Morpho pools, resulting in an estimated $1.55 million loss .
In under an hour, $K crashed from around $7.50 to $0.50, wiping out nearly 90–95% of its market value .
Key Facts:
Exploit origin: A proxy backdoor in the ERC‑1967 standard allowed minting, not the Kinto mainnet or bridge system
Hackers used inflated $K as collateral, borrowing USDC from Morpho before liquidating the vaults remain unaffected, per team statements
Security firms engaged: Seal 911, Venn Build, Hypernative, ZeroShadow, among others
As I keep saying, STAY AWAY FROM MEME AND MOST ALT COINS
