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Cronos’s post-mortem said the Tectonic exploit affected $120.4 million in borrowing, with 7.6%, or about $9.2 million, transferred off-network before validators intervened and the rollback took place.
Two DeFi lenders lost more than $84 million over four days in attacks using variations of a price-manipulation strategy previously targeted by US regulators. Tectonic on Cronos accounted for roughly $75 million, according to GoPlus.
Cronos validators halted the network after an alleged $75 million exploit at Tectonic. CoinDesk said the attacker inflated thinly traded TONIC by 100 times, used it as collateral and left most borrowed funds stranded.
