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Crypto

Cronos Blockchain Halts After $75M Tectonic Exploit

Guavy AI Editorial Team
Instruments
CRO
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Cronos' blockchain has halted following a significant exploit on the Tectonic DeFi protocol tied to Crypto.com. The move echoes previous instances where Cronos halted its blockchain after similar incidents, raising questions about the security of the Tectonic DeFi protocol. The $75M exploit is a substantial blow to the ecosystem.

The halt has sent shockwaves through the cryptocurrency market, with CRO trading at $0.06 within its Bollinger bands. Technical indicators such as the EMA50 and EMA200 both sit at $0.06, acting as immediate resistance. The MACD death cross confirms bearish momentum, while the RSI remains neutral at 42.9.

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