⚠️A hacker drained an estimated $75 MILLION from a Cronos lending protocol, forcing the entire blockchain to HALT mid-attack.

The attacker reportedly pumped Tectonic’s thinly traded TONIC token 100x in just 20 minutes, then used the inflated collateral to borrow millions in other assets.

Cronos froze the network before most of the funds could escape, leaving roughly $69M trapped on-chain while only about $6M was bridged to Ethereum.

Tectonic had roughly $122M in TVL and $83M in active loans before the exploit. The $75M estimate has not yet been independently confirmed by Tectonic or Cronos.

Crypto .com says its app and exchange were not compromised, while its security team is assisting with the investigation.

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