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Price manipulation on TONIC led to a $120M exploit on Cronos, prompting a network halt and rollback.

Market News
08 Sep 2026
Blockonomi
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Bearish
Price manipulation on TONIC led to a $120M exploit on Cronos, prompting a network halt and rollback.

An attacker manipulated the price of TONIC on the Tectonic lending protocol, borrowing $120.4 million across nine markets on the Cronos network. Validators halted the network at block 90,907,150 to prevent further losses and restored the chain to block 90,896,188, reversing $111.2 million of the exploit. About $9.19 million had already left the network before the halt and remains unrecovered. Cronos resumed normal operations after a coordinated rollback and is working with partners to reconcile balances, advising users to beware of scams during the recovery process.

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