Modular trading platform Kinto, operating within the Arbitrum ecosystem, suffered a significant smart contract attack in July, resulting in the loss of approximately $1.55 million worth of ETH. The company has announced its closure on September 30th. Founder Recuero has pledged to compensate some victims affected by the hack after the platform shuts down. While all remaining foundation assets will be returned to lenders involved in the ‘Phoenix’ program, who stand to recover 76% of their loan principal. Additionally, Recuero has committed $55,000 of his personal funds to compensate those impacted by the attack on the Morpho platform, with a maximum of $1,100 per address.