Cronos said $9.19 million left its blockchain before validators halted the network during the Tectonic exploit, laying out the portion of funds that was not undone by the rollback.
In a post-mortem published Tuesday, the layer-1 network said manipulated collateral values generated about $120.4 million in borrowing activity. After the chain was restored to its pre-exploit state, roughly $111.2 million was reversed. That left 7.6% of the affected funds outside the network.
Official tally of funds that escaped the rollback
The disclosure provides Cronos’s official accounting of the money that was not recovered through the rollback. According to the report, $9.19 million had already moved off Cronos before validators intervened and halted the chain.
The figures also clarify the scale of the incident. Earlier estimates had put the amount affected at about $75 million. Cronos now says the borrowing tied to the exploit reached about $120.4 million. The $9.19 million that left Cronos is also higher than the $8.3 million that blockchain data provider Bitquery had previously traced to Ethereum.
Earlier reporting described how the lending markets were drained
Cointelegraph had previously reported that a single transaction emptied nine Tectonic lending markets through 11 transfers involving stablecoins, Bitcoin, Ether and other assets.
Bitquery said the attacker deposited $5 million, then repeatedly borrowed and redeposited TONIC in a 98-cycle loop while buying the thinly traded token. As Tectonic’s price feed followed that move, TONIC’s price climbed to nearly 300 times its earlier level.
Detection and shutdown timeline
Cronos said Tectonic detected the activity at 12:49 UTC on Aug. 30. Validators halted the network at 14:32:47 UTC.
Block production resumed at 23:49:01 UTC after balances were restored.