Question 1

How did the Tectonic exploit work?

Accepted Answer

According to on-chain researcher Weilin Li, the attacker pushed TONIC's price up about 100 times in 20 minutes, then used the inflated tokens as collateral to borrow other assets from Tectonic, which assigned TONIC a 20% collateral factor.

Question 2

How much was stolen and how much got away?

Accepted Answer

Li estimates about $75 million was affected, but only around $6 million was bridged to Ethereum before Cronos halted the network, leaving the rest frozen on-chain. Tectonic and Cronos have not confirmed the figures.

Question 3

Was Crypto.com affected by the Cronos halt?

Accepted Answer

Crypto.com chief executive Kris Marszalek said on X that the company's app and exchange were not compromised and that its security team is assisting Cronos with the investigation. Tectonic operates independently on the Cronos network.

Tectonic

A 100 fold TONIC pump cost Tectonic $75 million and froze Cronos

One sharp brief.
Every day.

Tectonic

A 100 fold TONIC pump cost Tectonic $75 million and froze Cronos

One sharp brief.Every day.

One sharp brief.
Every day.