Cronos Blockchain Stops After Reported $75 Million Hack Attempt

Cronos stopped its entire blockchain on Sunday after an attacker drained Tectonic, the biggest lending protocol on the network. Crypto.com said its own app and exchange were never touched.

Most of the money never left the chain before validators pulled the plug, likely explaining why the CRO token price remained unaffected, surging nearly 5%.

How Cronos, Tectonic, and Crypto.com Fit Together

These are names, representing three different things. Crypto.com built Cronos, an Ethereum-style chain, and issues the CRO token securing it.

Tectonic is not Crypto.com's code. It launched in December 2021 out of the Cronos Labs incubator and runs independently.

That makes the Crypto.com reassurance true but narrow. The exchange was never exposed. Tectonic depositors are another matter.

Tectonic was still almost the whole lending market on Cronos. It held about $121.6 million, or 46% of all DeFi value on the chain, DefiLlama data shows. The next biggest lender holds about $30,000.

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