$9.19M Left in Cronos Network Before Halt After $75M Tectonic Attack

Cronos has released an official accounting of its network's state prior to the halt. According to the data, $9.19M remained in the system before the shutdown. This figure comes after a series of events involving the Tectonic protocol and a massive lending exploit that led to a $75M attack.

The Cronos validators halted the network and rolled back the chain to its state prior to the exploit, effectively erasing history and restoring the chain. An onchain researcher estimated that an attacker was able to inflate the price of TONIC 100-fold by depositing it into Tectonic and borrowing real assets.