X @Ignas | DeFi
Ignas | DeFiยท2025-09-09 09:43
Kinto pitched itself as the security first chain.KYC for every user. Audits and monitoring. Firewalls. Insurance for wallets.Their pitch wrote that crypto is 'dwarfed by the constant [...] smart contract hacks[...] Kinto is [...] designed to address all these problems.'But the exploit came from their own legacy token proxy on Arbitrum.Attacker could mint fake $K tokens and dump for 577 ETH.The hack affected $K token proxy on Arbitrum, which was outside those KYC and AML etc protections.Security first is a h ...