💵 Cronos halted its chain on Sunday after lending protocol Tectonic suffered an exploit estimated at around $75M. The attack appears to have involved manipulating a thin-liquidity asset, pushing its price up roughly 100x in 20 minutes, then using the inflated value as collateral to borrow other assets.
😆 Around $6M was reportedly bridged to Ethereum before the network halt, while most of the funds remained on Cronos at the time of reporting.
⚠️ The incident raises another important DeFi question: when something goes wrong, users need more than an emergency stop. They need clear communication, a recovery plan, and visibility into what happens next.
❓ What do you think? When a chain hits the emergency brake, what should come first? Share your thoughts in the comments.