Key Takeaways
Cronos resumed block production after validators restored the chain to a pre-exploit state following a Tectonic protocol incident.
According to CryptoSlate, Cronos has resumed block production after validators restored the chain to a pre-exploit state to contain an exploit involving the decentralized lending protocol Tectonic. Cronos stated that the network is back online from block 90,896,189, while some connected services, RPC providers, explorers, and bridges continue recovery.
Onchain researcher Weilin Li estimated that approximately $75 million was affected by the exploit, with about $6 million bridged to Ethereum. Li attributed the incident to the manipulation of Tectonic's governance token, TONIC, which was allegedly used as inflated collateral to borrow other assets. Neither Cronos nor Tectonic has published a final official accounting or complete root-cause analysis.
Crypto.com CEO Kris Marszalek reported that Crypto.com's app and exchange remained unaffected and operating normally while dispatching security staff to assist Cronos. Tectonic advised users not to interact with the protocol until safety is confirmed. Cronos announced it is monitoring network stability and will publish a full postmortem detailing the incident.
Source & Fact-Check Note
This report is synthesized from coverage by CryptoSlate. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at CryptoSlate ↗
