Kinto Co-founder: Attack Incident Results in Approximately $1.55 Million in Losses, Funds Stolen Traced in Coordination with Authorities

By: theblockbeats.news|2025/07/11 10:42:02

BlockBeats News, July 11th, Founder of the Arbitrum ecosystem modular transaction platform Kinto, Ramon Recuero, addressed the attack incident, stating that yesterday hackers exploited a vulnerability in Arbitrum to mint an infinite amount of K tokens, minting 110,000 K tokens and initiating an attack to drain the Morpho Vault and Uniswap v4 pool. The final loss was approximately $1.55 million in ETH and USDC, causing fluctuations in the K token price.

Currently, the Kinto team has been in contact with relevant authorities to trace the stolen funds. If the stolen funds are tracked down in the future or if funds are raised, the team will restore the K token balance to the snapshot state before the hack by July 31st and resume trading on CEX at the pre-attack price.

-- Price

Bitcoin (BTC) is holding above $76,000, supported by strong institutional buyingThe Fear & Greed Index at 33 indicates continued market caution despite price strengthCrypto ETPs saw $1.4B in inflows, marking three consecutive weeks of capital growthEthereum (ETH) is consolidating around $2,300, with resistance near $2,360Understanding what is futures trading vs what is spot trading is key in volatile marketsTraders are increasingly combining spot accumulation with futures trading strategies

DeFi is trapped in the most dangerous prisoner's dilemma in history

This incident has returned to the classic dilemma of cryptography: pragmatic security vs completely decentralized security.

Exclusive Interview with Jeff Hoffman: How Web3 and AI are Reshaping the Trillion-Dollar Social Travel Market

The most valuable platforms will not only be aggregators of suppliers, but they will also have relational networks around payments, loyalty, and communities.

After the KelpDAO hack, AAVE's situation is worse than you think

October 10 is the CEX-driven collapse, an epic failure in DeFi risk mitigation.

Atkins Marks One-Year Anniversary at SEC: Crypto Regulation Shifts from ‘Enforcement Heavy’ to ‘Rulemaking Mode’

Before the bill is passed, the SEC's cryptocurrency regulatory framework remains in a transition state of "administrative guidance + enforcement actions."

Under Political Pressure, Is the Federal Reserve Still Independent?

Powell believes that political pressure is not a threat, and what truly determines the Fed's independence is the Fed itself.

Yellen's Past Remarks: How Will This Incoming "Fed Chair" Disrupt the Federal Reserve? Janet Yellen, who is expected to become the next Chair of the Federal Reserve, has made several significant statements in the past regarding monetary policy, financ...

Powell's reform blueprint not only looks bold and ambitious, but also directly targets many vulnerabilities of the Federal Reserve. Facing the upcoming Senate confirmation hearing, how will this Fed's presumptive new "helmsman" reshape the future of the world's largest central bank?

Saylor's Bitcoin Holdings Surpass BlackRock, How Does This "Bitcoin Financing Machine" STRC Work?

Funding Cap is not equal to Execution Path; whether Bitcoin can cooperate is the true variable.

What Is RWA? What Is RWA in Crypto (Complete 2026 Guide)

Wondering what is RWA in crypto? We explain what RWA is, break down RWA tokenization in simple no-jargon terms, and cover why it's 2026's hottest crypto narrative.

What Is the KelpDAO Attack? What It Means for Aave Users in 2026

KelpDAO suffered a $292M rsETH exploit on April 18, 2026, triggering Aave market freezes and $13B DeFi outflows. Here’s what happened, whether Aave is safe now, and what users should do next.

Is your gold really "within reach"? The geographical blind spots of custodial services behind tokenized gold

When "complete physical support" does not equal "truly desirable," the risks are just beginning to emerge.

Crypto Market Update: BTC Holds $76K as Fear Index Signals Opportunity — What Is Futures Trading & Spot Trading Explained

DeFi is trapped in the most dangerous prisoner's dilemma in history

This incident has returned to the classic dilemma of cryptography: pragmatic security vs completely decentralized security.

Popular coins

Latest Crypto News

23:42

Waller: The Fed's tools need to be used in different ways

According to Jinshi reports, Federal Reserve Chair nominee Waller stated that the tools of the Federal Reserve need to be used in different ways.

23:42

AI16Z and the creators of ELIZAOS face a collective lawsuit over allegations of false advertising and unjust enrichment

The law firm Burwick Law has filed a federal class action lawsuit in the Southern District of New York (SDNY) against the creators of AI16Z and ELIZAOS, including defendant Walters, accusing them of violating consumer protection laws, false advertising, and unjust enrichment. Legal documents show th...

23:42

Federal Reserve Chair nominee Waller stated: will be independent of President Trump. I don't know the reason President Trump chose me. He indicated that after selling assets, he would allocate funds to compliant assets as close to short-term government bonds and cash as possible. The independence of...

Kinto Co-founder: Attack Incident Results in Approximately $1.55 Million in Losses, Funds Stolen Traced in Coordination with Authorities

-- Price

You may also like

Crypto Regulation News Update 2026: CLARITY Act, SEC-CFTC Framework, and 1099-DA Cost Basis Reporting Goes Live

Crypto Regulation News 2026: SEC-CFTC Framework, GENIUS Act, and MiCA 2 Coming

What Is Asteroid Shiba (ASTEROIDETH) and Why Is It Surging 600,000%?

Clarity Act Update April 2026: How to Manage Your XRP Portfolio Before It Passes | Crypto Regulation News

Crypto Market Update: BTC Holds $76K as Fear Index Signals Opportunity — What Is Futures Trading & Spot Trading Explained

DeFi is trapped in the most dangerous prisoner's dilemma in history

Exclusive Interview with Jeff Hoffman: How Web3 and AI are Reshaping the Trillion-Dollar Social Travel Market

After the KelpDAO hack, AAVE's situation is worse than you think

Atkins Marks One-Year Anniversary at SEC: Crypto Regulation Shifts from ‘Enforcement Heavy’ to ‘Rulemaking Mode’

Under Political Pressure, Is the Federal Reserve Still Independent?

Yellen's Past Remarks: How Will This Incoming "Fed Chair" Disrupt the Federal Reserve? Janet Yellen, who is expected to become the next Chair of the Federal Reserve, has made several significant statements in the past regarding monetary policy, financ...

ZachXBT vs. RAVE: Is a “Clean” Market Really What Speculators Want?

Arbitrum Poses as Hacker, 'Steals' Back Money Lost by KelpDAO

Without Cook's Apple, Can it Still Grow in the AI Era?

Saylor's Bitcoin Holdings Surpass BlackRock, How Does This "Bitcoin Financing Machine" STRC Work?

What Is RWA? What Is RWA in Crypto (Complete 2026 Guide)

What Is the KelpDAO Attack? What It Means for Aave Users in 2026

Is your gold really "within reach"? The geographical blind spots of custodial services behind tokenized gold

Crypto Regulation News Update 2026: CLARITY Act, SEC-CFTC Framework, and 1099-DA Cost Basis Reporting Goes Live

Crypto Regulation News 2026: SEC-CFTC Framework, GENIUS Act, and MiCA 2 Coming

What Is Asteroid Shiba (ASTEROIDETH) and Why Is It Surging 600,000%?

Clarity Act Update April 2026: How to Manage Your XRP Portfolio Before It Passes | Crypto Regulation News

Crypto Market Update: BTC Holds $76K as Fear Index Signals Opportunity — What Is Futures Trading & Spot Trading Explained

DeFi is trapped in the most dangerous prisoner's dilemma in history

Contents

Popular coins

Latest Crypto News

Waller: The Fed's tools need to be used in different ways

AI16Z and the creators of ELIZAOS face a collective lawsuit over allegations of false advertising and unjust enrichment

The three major U.S. stock indices fell, with the S&P 500 narrowing to less than 0.1%

The S&P 500 index turned down, and market sentiment weakened

Federal Reserve Chair nominee Waller: Will be independent of President Trump