2 hours ago
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Key Takeaways
- Cronos halted the network after Tectonic’s exploit.
- Researchers place the affected amount near $75M.
- Most suspected funds remain trapped on-chain.
- Crypto.com’s centralized app and exchange remained operational.
Cronos stopped the chain, not just Tectonic
Cronos Network announced that it had identified an exploit affecting Tectonic and halted the blockchain. Tectonic separately acknowledged an incident and told users not to interact with the protocol until it confirms that doing so is safe.
Cronos and Tectonic are separate layers of the incident. Cronos is the Layer-1 network processing transactions, while Tectonic is a lending application built on it. Stopping block production therefore suspended on-chain transfers, bridges and smart-contract activity across the ecosystem, including services unrelated to Tectonic.
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