Cronos says $9.19M remains unrecovered after $120M Tectonic exploit

Cronos has confirmed that $9.19 million remains unrecovered after an attacker borrowed $120.4 million from Tectonic, while a validator-backed rollback reversed roughly $111.2 million in affected value. Summary Cronos says $9.19 million remains unrecovered after an attacker borrowed $120.4 million from Tectonic using manipulated TONIC collateral. Validators rolled back 10,961 blocks covering nearly two hours of transactions, restoring roughly $111.2 million in affected value. The attacker moved 7.6% of the affected funds off Cronos before the network was halted, putting them beyond the rollback. Cronos resumed block production around 11 hours after the attack and continues reconciliation work with exchanges, bridges and other platforms. According to a post-mortem published by Cronos on Monday, the attacker manipulated the price of TONIC, the governance token of lending protocol Tectonic, and used the inflated asset as collateral to borrow funds across nine markets on Aug. 30. The attack led Cronos validators to halt the Layer 1 blockchain at block 90,907,150 before agreeing to restore the network to block 90,896,188, the final block produced before the exploit began. The rollback re...