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KITE Migrates Token Contract 1:1, Excludes Attacker Address

KITE is migrating to a new token contract on a 1:1 basis, with the attacker’s address excluded from the migration. This move aims to mitigate the impact of a previous security incident.

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AI take

The 1:1 migration is the notable part: rather than treating the incident as a loss to be absorbed, KITE is rebuilding the holder base on a new contract while excluding the attacker's address, effectively attempting to strand compromised supply. That approach affects anyone holding the token across venues and raises practical questions about how balances and liquidity are reconciled during the transition. Whether the excluded address can still influence markets through other wallets, and how smoothly holders migrate, is the open question.

Generated by AI for reference only.

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