$75M Tectonic Exploit Brings Cronos Network to Standstill

Cronos has halted its blockchain after an exploit targeting decentralized lending protocol Tectonic put an estimated $75 million of crypto at risk, forcing validators to freeze block production while investigators trace the attacker's movements.

The incident is one of the largest DeFi exploits on Cronos and has effectively brought the network to a standstill. While around $6 million reportedly reached Ethereum before the halt, most of the suspected proceeds remain on Cronos.

Crypto.com CEO Kris Marszalek said the company's exchange and app were unaffected and that customer funds remained safe.