Cronos Network Rebooted After Emergency Halt Due to Tectonic Exploit

Cronos network restarted after an emergency halt due to an exploit targeting Tectonic, a decentralized lending protocol built on Cronos.

The incident involved manipulation of TONIC, Tectonic's governance token, which was used as collateral to borrow other assets from the protocol.

Weilin Li estimated that the attacker affected roughly $75 million after initially identifying approximately $66 million connected to the attack and later finding another attacker-controlled address holding close to $8 million.

Cronos validators halted block production, preventing transactions from being processed across the network while the incident was investigated.