CoinScoopTectonic Reports $120.4 Million Exploit with $9.19 Million Still Unrecovered
The Cronos-based lending protocol Tectonic (Tectonic) released a report on the August 30 exploit, where an attacker manipulated the price of TONIC by approximately 195 times to borrow $120.4 million across nine markets. While most assets were recovered following a network pause and state restoration, $9.19 million was bridged out and remains unrecovered. The team plans to phase out low-liquidity collateral and implement borrowing caps.
Summaries are written by AI from the original article. Not investment advice.