Tectonic, a lending protocol in the Cronos ecosystem, was exploited in what was described as its first hack, with losses of about $74 million. The latest update said the attacker moved only about $6 million to Ethereum through a cross-chain transfer, while roughly $60 million remains stranded on Cronos. In response, project operators paused interaction across the blockchain to support the investigation. According to Decrypt, the Cronos team is working with security firms to examine the incident. The project said all user funds are safe and that it is tracing the movement of the stolen assets. Crypto.com’s app and exchange were not affected and continue to operate normally. The network-wide pause stands out as a relatively rare chain-level response to an exploit of this kind.
Tectonic, a lending protocol in the Cronos ecosystem, was previously exploited, with losses estimated at about $74 million. The latest update says this was the protocol’s first hack.
So far, the attacker has moved only about $6 million to Ethereum via a cross-chain transfer, while roughly $60 million remains stuck on-chain. The project has paused interaction across the entire blockchain as the investigation continues.
According to Decrypt, the Cronos team is investigating the incident with security organizations. The project said all user funds are safe and that it is tracking the flow of the stolen assets.
Crypto.com’s app and exchange were not affected and are operating normally. The attack led to a pause on the Cronos network, a relatively rare chain-level response in incidents of this type.
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