Kinto pitched itself as the security first chain.

KYC for every user. Audits and monitoring. Firewalls. Insurance for wallets.

Their pitch wrote that crypto is 'dwarfed by the constant [...] smart contract hacks[...] Kinto is [...] designed to address all these problems.'

But the exploit came from their own legacy token proxy on Arbitrum.

Attacker could mint fake $K tokens and dump for 577 ETH.

The hack affected $K token proxy on Arbitrum, which was outside those KYC and AML etc protections.

Security first is a hard sell. Especially in crypto.

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