KITE Foundation confirmed a hacking incident causing abnormal KITE transfers on Ethereum, paused the token contract and cross-chain bridges, and is deploying a new ERC-20 contract. Balances will be reconstructed from a pre-incident snapshot at block 25,692,498 (Aug 6, 2026), and attacker-linked addresses will be excluded from redistribution.
Matters because: Full contract migrations are operationally complex and carry phishing risk, while liquidity and exchange support may stay constrained until migration completes.