POPA ReconCronos Halted After $75M Tectonic Exploit
Cronos Halted After $75M Tectonic Exploit Crypto.com's Cronos network shut down entirely on Sunday after an attacker drained its largest lending protocol. Researcher Weilin Li estimates ~$75M affected - Tectonic had $121.7M in TVL going in, and hasn't confirmed the figure or the cause. The attacker pumped TONIC, Tectonic's thinly traded governance token, roughly 100x in twenty minutes, then borrowed real assets against the inflated collateral. Tectonic's own docs warned that low-liquidity assets are vulnerable to exactly this, and the token still carried a 20% collateral factor. Same attack…
The excerpt is quoted from a public Telegram channel, which owns its text.
Read the original post on Telegram
More posts from Top 7 | Tech, AI & Crypto Analytics · All channels