Kinto announced that it will shut down on September 30, having suffered an attack in July that resulted in a loss of approximately 1.55 million dollars

ChainCatcher news, the Arbitrum ecological modular trading platform Kinto suffered a smart contract attack in July, resulting in a loss of 577 ETH, approximately 1.55 million USD. Kinto announced it will shut down on September 30.

Its founder Recuero promised to compensate some of the hacker victims after Kinto closes. According to Recuero, all remaining foundation assets will be returned to the lenders of the "Phoenix" program, who will recover 76% of the loan principal. Recuero also pledged to contribute $55,000 of personal funds to compensate the victims of the hack on the Morpho platform, with a maximum of $1,100 per address.