Cronos confirms $9.19 million lost after Tectonic exploit rollback

Cronos has confirmed that $9.19 million in funds were permanently lost following a security exploit on the Tectonic lending protocol. The incident involved the manipulation of TONIC token collateral prices, which generated approximately $120.4 million in total borrowing activity.

To mitigate the damage, Cronos validators paused block production and executed a network rollback to a state prior to the attack. This procedure successfully recovered approximately $111.2 million, but roughly 7.6% of the affected funds remained unrecovered after being transferred off-chain. This final figure exceeds previous estimates that placed the unrecovered amount at $75 million.