Tectonic has released a report on the August 30 attack, revealing that the attacker inflated TONIC's price by approximately 195x and used cyclic borrowing to extract about $120 million from nine lending markets. After Cronos paused the network and restored state, most assets returned to pre-attack levels, but roughly $9.19 million had been cross-chain transferred and remains unrecovered. The team plans to phase out low-liquidity collateral and set borrowing caps per market.
Tectonic released a report on the August 30 attack: the attacker manipulated the price of TONIC by approximately 195 times and used cyclic borrowing to drain about $120 million from nine lending markets. After Cronos paused the network and restored state, most assets returned to pre-attack levels, but roughly $9.19 million had been cross-chain transferred and remains unrecovered. The team plans to phase out low-liquidity collateral and set borrowing caps per market.
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