Cronos Network Suspended Following $75 Million Tectonic Exploit

The Cronos network, linked to Crypto.com, has halted operations following a security breach on the Tectonic lending protocol. The attacker reportedly manipulated the price of the illiquid TONIC token to borrow against inflated collateral, mirroring the strategy used in the Mango Markets hack. The total value affected is estimated at $75 million.