On August 30, a protocol on the Cronos blockchain was targeted by an attack on the Tectonic lending protocol that allowed a malicious actor to borrow over 120 million dollars in assets by manipulating the TONIC token price. In response, validators halted the network for 9 hours and decided to restore the blockchain to block 90,896,188, canceling 1 hour and 54 minutes of already finalized transactions, some of which were entirely legitimate. This operation canceled approximately 111.2 million dollars in impacted value, representing 92 % of the attack’s effects. Despite this responsiveness, the attacker managed to transfer 9.19 million dollars out of the network before its interruption, accounting for approximately 7.6 % of the affected funds. The question of who will bear this 9.19 million dollar loss and whether there will be a compensation plan for affected users remains unanswered.
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