Hack

Cronos halts blockchain after $75 million lending exploit hits lending app Tectonic

CoinDesk1h agoUpdated 1h ago
Cronos halts blockchain after $75 million lending exploit hits lending app Tectonic
Smart Read

An attacker allegedly pushed Tectonic’s thinly traded TONIC token up 100-fold, used it as collateral to borrow real assets and left most funds stranded when Cronos validators paused the network.

Discussion

Related stories

The Block

Crypto.com-linked Cronos network halts after Tectonic exploit estimated at $75 million

Li says the attacker manipulated the price of Tectonic's illiquid TONIC token before borrowing against the inflated collateral, a Mango Markets-style hack.

CoinDesk

From Hawala to Swift: Inside the 1,000-year battle to move money safely

Finance has spent centuries decoupling wealth from physical transport, but constantly erasing friction creates vectors for increasingly high-tech exploits.

CryptoSlate

White House aide turned secret speech text into $107k on prediction markets before CFTC stepped in

A settled CFTC order adds a $65,000 penalty and three-year ban while crediting KalshiEX’s assistance. The post White House aide turned secret speech text into $107k on prediction markets before CFTC stepped in appeared first on CryptoSlate.

KryptoKite aggregates and summarises third-party crypto news. This is informational content, not investment advice. KryptoKite does not recommend buying or selling any asset.