📢 #Gate Square Writing Contest Phase 3# is officially kicks off!
🎮 This round focuses on: Yooldo Games (ESPORTS)
✍️ Share your unique insights and join promotional interactions. To be eligible for any reward, you must also participate in Gate’s Phase 286 Launchpool, CandyDrop, or Alpha activities!
💡 Content creation + airdrop participation = double points. You could be the grand prize winner!
💰Total prize pool: 4,464 $ESPORTS
🏆 First Prize (1 winner): 964 tokens
🥈 Second Prize (5 winners): 400 tokens each
🥉 Third Prize (10 winners): 150 tokens each
🚀 How to participate:
1️⃣ Publish an
Token K of the Kinto exchange fell 87% in 24 hours after the Arbitrum contract was attacked.
The price of the $K token of Kinto has fallen more than 87% in the past 24 hours after a vulnerability was discovered on the Arbitrum network, leading to a sell-off that caused the price to drop 45% in one hour. Kinto announced the incident at 10:50 AM GMT and confirmed the vulnerability at 12:33 PM GMT, stating that it occurred outside of the Kinto network and affected the deployment of the $K token. An attacker minted nearly 7 million tokens, exceeding the circulating supply, and used them as collateral to borrow USDC from the Morpho protocol. Kinto is collaborating with third-party cybersecurity teams to investigate and asserts that their wallets and bridge reserves were not affected. Market sentiment around Kinto has deteriorated, with many blaming poor contract design.