Cronos Network Halts After Tectonic Price Exploit Triggers $75M Loss

TLDR: Cronos Network halted block production after Tectonic’s exploit drove preliminary losses to about $75 million. TONIC surged roughly 100-fold in 20 minutes, allowing inflated collateral to support larger Tectonic loans. Only about $6 million reached Ethereum before the halt, leaving most exploit-linked assets stranded on Cronos. Tectonic held $121.7 million in TVL and $82.7 [...]

The post Cronos Network Halts After Tectonic Price Exploit Triggers $75M Loss appeared first on Blockonomi.