Cronos Network Halts After Tectonic Exploit, What Happens to User Funds?
- Cronos halted the network after identifying an exploit on lending protocol Tectonic.
- Roughly $69 million remains trapped onchain, with $6 million bridged out.
- Crypto.com says its app and exchange were not affected by the exploit at all.
Cronos Network, a blockchain associated with Crypto.com, halted its entire chain on August 30 after identifying an exploit targeting Tectonic, a lending protocol built on the network. The halt froze all activity, prompting immediate questions from users about whether their funds and open positions remain safe.
As of the latest update, Cronos said, โWeโre still halted while we investigate the Tectonic exploit, with support from security teams across the industry.โ At press time, the CRO token is down 2%, trading at $0.056.
How the Exploit Happened
According to a preliminary analysis from researcher Weilin Li, the attacker manipโฆ
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