Kinto announces closure and initiates orderly liquidation According to official news, Kinto has decided to shut down the project due to the CPIMP proxy vulnerability on Arbitrum in July, which led to the theft of 577 ETH from the K token, exacerbating funding and debt pressures. The team has not received salaries since July. All remaining assets (approximately $800,000) will be used to repay Phoenix lenders, with an estimated recovery of 76% of the principal. The founder will personally donate $55,000, and victims can receive up to $1,100 per address, with the option to participate in future recovery through the CVR protocol. Kinto wallet and asset withdrawals will remain open until September 30, and the ERA airdrop is expected to be distributed on October 15.