Altcoins News
By James Thorp
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Kinto Token Collapses After Shutdown Announcement. The governance token of the Kinto Network plunged 81.4% to around $0.
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The Hack That Triggered the Downfall. Kinto was among several decentralized finance (DeFi) protocols hit by a vulnerability in the…
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High Yields and Sustainability Questions. Even before the hack, some critics argued that Kinto’s economic model was unsustainable.
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Built on Arbitrum With Ambitious Goals. Kinto was designed as a modular Ethereum layer-2 solution built on Arbitrum, combining the…
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Recovery Plan and User Compensation. As part of its wind-down, Kinto has outlined a recovery and compensation plan for affected users.
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A Pattern of Failed Ventures. Kinto is not Recuero’s first failed crypto project. In 2022, his earlier venture Babylon Finance…
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Lessons for Ethereum Layer-2 Projects. The collapse of Kinto highlights the ongoing risks faced by Ethereum layer-2 solutions and the…
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Conclusion. Kinto’s shutdown marks another chapter in the turbulent history of DeFi ventures struggling to…
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Ethereum layer-2 project Kinto is closing its doors after months of financial strain and the fallout from a multimillion-dollar hack.
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The governance token of the Kinto Network plunged 81.4% to around $0.46 following the shutdown news, according to CoinGecko data.
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Launched in April 2025, the project lasted less than six months before deciding to close operations.
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Kinto was among several decentralized finance (DeFi) protocols hit by a vulnerability in the ERC-1967 Proxy standard, a widely used OpenZeppelin codebase that allows smart…
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While the team quickly raised $1 million in debt financing to restore trading on its modular exchange, the financial setback proved too severe.
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“Every day that we go on, the funds dwindle further. We’ve operated without salaries since July, and after the last financing path fell through, we have one responsible choice…
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Even before the hack, some critics argued that Kinto’s economic model was unsustainable. Co-founder Ramon Recuero noted in April that K staking offered 130% annual yields in…
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