Cronos halts network after Tectonic exploit affecting 75000000 dollars
By: coinness.com|2026/08/30 23:01:33
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Prefer us on GoogleCronos, Crypto.com’s layer-one blockchain, temporarily halted network operations following an exploit of the ecosystem lending protocol Tectonic. The exploit resulted in approximately 75000000 dollars in crypto being illicitly borrowed, with around 6000000 dollars moved into Ethereum. An on-chain analyst explained that the attacker inflated the price of the low-liquidity TONIC token by about 100 times, using the overstated collateral value to borrow roughly 75000000 dollars in assets. Before the network halt, about 6000000 dollars had been transferred to Ethereum, while most of the illicitly borrowed assets remained within the network. Crypto.com stated that the exploit did not impact the Crypto.com app or exchange services.
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