Tectonic

1 months agoNews Editor

Tectonic Attack Report: $120M Drained via Price Manipulation, $9.19M Unrecovered

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.