KITE deploys new ERC-20 contract after security incident

The KITE Foundation said it has deployed a new KITE ERC-20 contract on Ethereum mainnet in response to a recent token security incident. Total token supply remains unchanged, and existing KITE tokens will be migrated one-for-one to tokens based on the new contract. Addresses linked to the hacker are excluded from the migration and will not receive the new tokens. The snapshot for the migration is based on Ethereum mainnet block height 25,692,498. Users holding tokens in personal wallets will receive the new tokens directly without any separate redemption or approval process. Token transfers for exchange users will be handled through cooperation between each exchange and the KITE team. Cross-chain channels will remain suspended until the migration and verification process is completed. A hacking incident occurred at KITE on Aug. 6, but no user or project assets were lost.