Kinto (@KintoXYZ) has opened a fixed-term USDC market on Wildcat—kPhoenixUSDC, aiming to raise 750 000 USDC at 50 % APR. Principal + interest come due 30 Sep 2025, providing an on-chain credit line to recapitalize liquidity and repay users after the recent proxy exploit.
🧵 1/10 $K Hack Recap & Recovery Plan
The last 72 h were brutal. A sophisticated proxy exploit let an attacker mint unlimited $K on Arbitrum, drain our Uniswap pool + Morpho vault, and nuked the price with millions of fake tokens.
Here’s the recap & path forward 🧵