Kite Foundation Thwarts Ethereum Attack, Confirms No KITE Tokens Were Lost

TL;DR

• The Kite Foundation detected and managed to contain an attack on its native token on the Ethereum mainnet; no loss of funds was reported.
• The token is currently trading around $0.104, reflecting a drop of more than 67% from its all-time high of $0.3212 recorded on March 6.
• This incident adds to a series of AI-assisted attacks that affected Boltz, AQUA Wallet, and ZEUS over the past two weeks.

The Kite Foundation announced via X that it detected and neutralized an attack targeting its KITE token on Ethereum mainnet. According to the official statement, security monitoring systems identified unusual activity in token transfers, which triggered alerts and halted the operation before any funds left the contracts. “It was identified and contained immediately, and no tokens were lost,” the foundation wrote.

The project had an audit infrastructure in place before the incident. Kite AI maintains an active bug bounty program on Sherlock since July 20, with rewards of up to $10,000 USDC for reporting vulnerabilities. Additionally, its CertiK page shows a security rating of 4.2, indicating that review measures were in place before this week’s alert.

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