Kinto Network: Vulnerability Attack on K Token - Mainnet and Funds Safe

10 July, 2025, 01:29 PM

Kinto (K) Token Suffers Exploit on Arbitrum, Mainnet Untouched Ethereum Layer 2 project Kinto announced a vulnerability attack affecting its K token deployed on the Arbitrum network. In an X post, Kinto assured users that "this occurred outside of the Kinto mainnet, and both our network and user funds are safe." Immediate Investigation Underway Kinto is actively investigating the exploit with support from relevant companies to determine the full extent and impact. While the mainnet remains secure, the incident highlights the risks associated with token deployments on other networks. K Token Price Plummets Following the announcement, the K token experienced a significant price drop. According to CoinMarketCap, K is currently trading at $0.5540, reflecting a 91.21% decrease. This sharp decline underscores the market's sensitivity to security breaches and the importance of robust security measures in the blockchain space. Users are advised to exercise caution and stay updated on further developments. ```