Cronos Halts Blockchain After $75M Tectonic Exploit

Crypto.com's Cronos Network halted its entire blockchain on Sunday after an exploit at Tectonic, the largest lending protocol on the network.

An estimated $75 million was lost in the attack, with around $6 million bridged out before the halt. The chain remained frozen on Monday, with Crypto.com's app and exchange unaffected.

Tectonic allows users to deposit crypto for others to borrow against posted collateral, earning interest in return. It was the first protocol of its kind to launch on Cronos and remains the largest, holding nearly half of all capital deposited across the network's DeFi apps.