Cronos Network Halted After $69M Exploit on Lending Protocol Tectonic

Cronos Network, associated with Crypto.com, halted its chain on August 30 after discovering an exploit in Tectonic, a lending protocol built on the network.

The halt froze all activity, leaving users concerned about the safety of their funds and open positions. Approximately $69 million remains trapped onchain, while $6 million was bridged out to Ethereum.

Crypto.com's founder stated that its main app and exchange were not affected by the exploit, assuring users that 'all funds are safe' on those platforms.