Cronos Hack Recovery Falls Short as $9.1 Million Remains Missing

A major hack hit the Tectonic lending platform on Cronos earlier this year. The hackers manipulated TONIC token prices and used them to borrow large sums from nine different markets.

Cronos was able to recover most of the stolen funds, a total of $111.2 million. However, about $9.1 million is still missing, particularly assets that were moved off the network.

To deal with the hack, Cronos paused its blockchain and rolled it back almost two hours, reversing 10,961 blocks and all transactions during that window to restore balances before the attack.

Meanwhile, security firm PeckShield reports that August saw 50 cryptocurrency hacks with losses of $136.3 million, highlighting the importance of stronger security in the cryptocurrency world.