Cronos network halted after Tectonic exploit estimated at $75 million

The Cronos blockchain network linked to Crypto.com was halted after an exploit targeting the Tectonic protocol, estimated at $75 million. The attacker manipulated the price of Tectonic's illiquid TONIC token and then borrowed against the artificially inflated collateral — a technique similar to the Mango Markets hack. The incident is one of the largest DeFi exploits in recent memory.