Cronos blockchain restarts after $74 million Tectonic exploit

The Cronos blockchain was exploited via a price-manipulation attack on the Tectonic DeFi lending platform, resulting in the attacker borrowing $74 million worth of assets by artificially inflating the value of the TONIC token by 100x within 20 minutes. The attacker successfully withdrew approximately $6 million in Ethereum, while the remainder of the funds were frozen due to the blockchain's emergency response. Cronos halted operations, rolled back the chain state to before the exploit occurred, and has since resumed normal operations. A post-mortem analysis is expected to follow.

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