Kinto announces closure on September 30

On September 8, it was reported that Arbitrum ecosystem modular trading platform Kinto suffered a smart contract attack in July, resulting in a loss of 577 ETH, approximately $1.55 million. Kinto announced it will shut down on September 30. Its founder Recuero promised to provide compensation to some hacking victims after Kinto's closure. According to Recuero, all remaining foundation assets will be returned to lenders of the "Phoenix" program, who will recover 76% of their loan principal. Recuero also pledged to contribute $55,000 of his personal funds to compensate victims of the hack on the Morpho platform, with a maximum of $1,100 per address.