Cronos Network Halts After Tectonic Price Exploit Triggers $75M Loss
Crime
Security
blockchain security
CRO
Cronos Ecosystem
Cronos Network
crypto hack
DeFi exploit
DeFi lending
Tectonic
TONIC
TLDR: Cronos Network halted block production after Tectonic’s exploit drove preliminary losses to about $75 million. TONIC surged roughly 100-fold in 20 minutes, allowing inflated collateral to support larger Tectonic loans. Only about $6 million reached Ethereum before the halt, leaving most exploit-linked assets stranded on Cronos. Tectonic held $121.7 million in TVL and $82.7 [...]
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Source: Source: Blockonomi