Rekt - Just Bad Luck?

Kinto's $K token was hijacked on July 10 through a proxy backdoor that let attackers mint 110,000 tokens, drain $1.55 million from Uniswap and Morpho pools, and push the price down almost 95%. The article questions the team's account, which blames sophisticated hackers and a state actor, and notes that founder Ramon Recuero previously led Babylon Finance, which also faced an external crisis. Ramon announced a recovery fund three days after the exploit, and the article says it depends on donations from "partners and existing investors" to restore the roughly $1.4 million lost.