$119M Stolen in Cronos Lending Protocol Exploit

Cronos Network has paused operations after an exploit hit Tectonic, its lending protocol. The attack saw around $119.5 million drained from lending pools.

Tectonic responded quickly to the incident by posting on X, urging users not to interact with the protocol until it's confirmed safe. 'As a precaution, please do not interact with the protocol until we confirm it is safe to do so.'

An on-chain analysis estimates that $119.5 million was drained in 65 minutes. The size of the loss remains uncertain.