Cronos halted its blockchain after an exploit targeting decentralized lending protocol Tectonic, with estimated losses of $75 million. The attacker exploited TONIC’s 20% collateral factor and thin liquidity, pumping the governance token’s price 100-fold within 20 minutes before borrowing other assets. Approximately $6 million was bridged to Ethereum before the halt, while $60 million remains on Cronos and an additional $8 million was identified in an attacker-controlled address. Crypto.com’s app and exchange were unaffected and continued operating normally. Neither project has confirmed the cause or announced a restart timeline at publication.
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