On August 30, 2026, the Cronos blockchain stopped block production after an attacker exploited the Tectonic lending protocol, draining between $66 million and $75 million, with some estimates up to $120 million. The attacker manipulated the price of Tectonic's governance token, used it as inflated collateral to borrow assets, and moved about $6 million off-chain before validators halted the network. While funds on the chain are frozen, assets held in Crypto.com's app or exchange remain safe. The halt prevented further losses but also froze all other transactions on Cronos. The incident highlights risks in DeFi lending protocols relying on thinly traded collateral and the trade-offs of blockchains that can be halted by validator consensus. Investigations and a full post-mortem are pending, with no compensation commitments yet.
Cronos Network stopped block production after an attacker exploited Tectonic, its largest lending protocol, causing preliminary losses near $75 million. The attacker manipulated Tectonic's governance token TONIC, inflating its price about 100-fold in...
On August 30, 2026, the Cronos blockchain stopped block production after an attacker manipulated the price of Tectonic's TONIC token by about 100 times within 20 minutes. The attacker used the inflated token as collateral to borrow and drain $66M to ...
Cronos (CRO) price rose 27.7% over the past week to $0.0606, recovering from a 12-month low of $0.0462 but still trading 81.5% below its 12-month high of $0.3284. The token reclaimed its 50-day moving average but remains below the 200-day average at ...
World Liberty Financial's USD1 stablecoin has surpassed $4 billion in circulation, driven mainly by institutional use such as a $2 billion Binance investment by MGX. CEO Zach Witkoff denies political ties to the Trump family influenced this growth. T...
