KITE Foundation confirms hack on Ethereum, pauses token contract and bridges, deploying new ERC-20 with 1:1 migration from pre-incident snapshot.
Security & Exploits ·
KITE Foundation detected abnormal token transfer activity on Ethereum resulting from a hacking incident involving compromised wallet addresses. The team immediately paused the KITE ERC-20 token contract and cross-chain bridges to halt the abnormal activity. The foundation stated no user or project assets were lost and the incident's impact was fully contained.
To address the compromise, KITE Foundation deployed a new ERC-20 contract retaining the KITE name and symbol, with total supply unchanged. Balances for legitimate holders will be reconstructed from a snapshot taken at Ethereum block 25,692,498 on August 6, 2026, and new tokens will be distributed at a 1:1 ratio to eligible addresses. Addresses controlled by the attacker will be excluded from redistribution. The new contract has completed an independent third-party security audit.
The migration introduces several open questions: exchange coordination timelines remain unclear, with platforms gradually restoring deposits and withdrawals per individual schedules. Cross-chain functionality remains paused pending security validations and liquidity restoration. Users holding legacy KITE outside exchanges must retain control of their original wallets until distribution completes, while those with compromised or inaccessible wallets must submit disputes through a support form for manual review.