Kinto Lianchuang: The attack caused a loss of approximately US$1.55 million and is tracing the stolen funds

PANews reported on July 11 that Ramon Recuero, co-founder of Kinto, a modular trading platform of Arbiturm ecosystem, wrote a post about the attack, saying that yesterday hackers took advantage of the loophole of casting unlimited K tokens on Arbiturm, cast 110,000 K and started the attack to drain the Morpho Vault and Uniswap v4 pools. In the end, about $1.55 million in ETH and USDC was lost, and the price of K tokens fluctuated.

At present, the Kinto team has contacted relevant departments to track down the stolen funds. If the stolen funds are tracked or funds are raised in the future, the team will restore the K token balance to the snapshot state before the hacker attack before July 31 and restart the transaction on CEX at the price before the attack.