Cronos Validators Erase History And Restore Chain After $75M Lending Exploit
TL;DR
- Cronos validators halted the network and rolled back the chain to its state prior to the Tectonic protocol exploit.
- An onchain researcher estimated that approximately $75 million was affected; only $6 million was bridged to Ethereum before the halt.
- The network resumed block production, but some connected services are still recovering and the official postmortem remains pending.
Validators of Cronos took an unprecedented step by fully halting the network and rolling back the chain state to a point prior to the exploit that affected Tectonic, a decentralized lending protocol built on that blockchain.
The move took the entire network offline while security teams assessed the incident. In an update on August 31, the network confirmed that the chain had resumed block production from block 90,896,189, with a timestamp corresponding to 23:49:01 UTC on August 30.
The Cronos Network is producing blocks again and is fully back online.
The Cronos Network halted earlier today. This was a validator-consensus emergency action to protect users from an exploit on the Tectonic protocol. The chain state was restored to before the Tectonic exploit…
… Continue reading the full article at the original source below.
