Cronos Reverts Exploit, But Over $6M Had Already Left Network

Cronos, a cryptocurrency network, has rolled back its blockchain to a point before an exploit occurred on lending platform Tectonic. The move was made after an attacker reportedly tampered with the price of TONIC, making it easier to manipulate.

The attacker allegedly pushed the price higher and then deposited inflated assets into Tectonic, allowing the platform to lend valuable assets against them. This tactic allowed the attacker to borrow assets worth more than they were actually worth.

Cronos initially estimated that about $75 million had been taken from Tectonic, but the final amount remains unconfirmed. The network halted its blockchain and later restored its records to a point before the exploit occurred, removing affected transactions from the accepted history.