Cronos Network Reopens After $74 Million Tectonic Exploit

The Cronos Network has resumed operations after a $74 million exploit on lending protocol Tectonic caused it to shut down temporarily.

The shutdown was a validator-consensus emergency action taken to protect users from further damage, according to Cronos. The network restarted producing blocks at 23:49 UTC on Sunday, starting from block 90,896,189.

Cronos assured that the funds are safe and that the shutdown was necessary to prevent any additional losses due to the active exploit on Tectonic.