Kite Foundation Foils Mainnet Token Attack Without Losses

The Kite Foundation recently thwarted an attack on its KITE token running on Ethereum mainnet, fortunately without any tokens being lost. The incident occurred when the foundation's security monitoring picked up unusual KITE transfer activity and flagged it for immediate action. According to the post on X, the attack was identified and contained before any tokens moved.

The Kite Foundation had been running a live bug bounty on Sherlock since July 20, offering up to 10,000 USDC for reported flaws. The platform also had a CertiK security rating of 4.2 on its token page, indicating that the project had put audit infrastructure in place before this week's alert.

KITE now joins Boltz, AQUA, ZEUS, and other DeFi protocols that have been probed or drained over the past two weeks. The foundation stated that no tokens were lost during the attack.