Cronos

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DeFi protocols just lost $83 million to an attack financial regulators already warned about

Malicious actors exposed two decentralized finance (DeFi) lenders to over $84 million in losses over four days, using variations of a price-manipulation strategy previously targeted by US regulators. The larger incident hit Tectonic on the Cronos blockchain, where security firm GoPlus estimated roughly $75 million was affected. Three days earlier, Moonwell’s MAMO lending market on […]

CryptoSlateCryptoSlateOluwapelumi Adejumo31 Aug

Cronos Halts Chain After $75M Tectonic Exploit

The Cronos network remains frozen following a massive price manipulation exploit targeting the Tectonic money market protocol. The Validator Dilemma: Restart or Roll Back The Cronos network, an Ethereum Virtual Machine-compatible Layer 1 blockchain, confirmed Monday that the network remains paused pending an investigation into an exploit of Tectonic, a money market protocol on the […]

Bitcoin.com NewsBitcoin.com NewsTerence Zimwara31 Aug