Kinto has announced that it will shut down on September 30th, after suffering an attack in July resulting in a loss of approximately $1.55 million.

BlockBeats News, September 8th. In July, Arbitrum's modular transaction platform Kinto was subjected to a smart contract attack, resulting in a loss of 577 ETH, approximately $1.55 million. It has announced that it will shut down on September 30th. Its founder, Recuero, has pledged to compensate some of the victims of the hack after Kinto's closure. According to Recuero, all remaining foundation assets will be returned to the loan providers of the 'Phoenix' plan, who will recover 76% of the loan principal. Recuero has also committed to allocate $55,000 of personal funds to compensate victims of the hacker attack on the Morpho platform, with a maximum of $1,100 per address.