According to official news from Odaily Planet Daily, Kinto lost 577 ETH due to a CPIMP proxy vulnerability in its K token on Arbitrum in July. This led to increased funding and debt pressures, and the team has not received any compensation since July. The project has now been shut down. All remaining assets (approximately $800,000 USD) will be used to repay Phoenix lenders, with an estimated 76% principal recovery. The founder will personally donate $55,000 USD, and victims will receive up to $1,100 USD per address and can participate in future fund recovery through the CVR protocol. Kinto wallets and asset withdrawals will be available until September 30th, and the ERA airdrop is expected to be distributed on October 15th.