Cronos Blockchain Resumes Operations After Emergency Halt
The Cronos blockchain, maintained by Crypto.com, has resumed block production after an emergency network halt triggered by an exploit of the Tectonic lending protocol.Validators rolled back the blockchain to a point before the attack to remove related transactions from the network's history.
Block production resumed at block 90,896,189, and node operators were advised to upgrade to Cronos v1.7.8 and use the latest mainnet snapshots. Developers warned that some protocols, RPC providers, blockchain explorers, and bridges may take longer to restore their services.
The attack on Tectonic is believed to have resulted in losses of around $75 million, with Weilin Li estimating that the attacker manipulated Tectonic's TONIC governance token to inflate its price roughly 100 times higher in about 20 minutes. The attacker then used the inflated tokens as collateral to borrow other assets.
Crypto.com CEO Kris Marszalek stated that the company's app and exchange were not affected, but their security team is assisting with the investigation.