Tectonic hack on Cronos recovered $111.2 million, $9.1 million still missing
Earlier this year, the Tectonic lending platform on Cronos was hit by a major hack: someone manipulated TONIC token prices and used them to borrow big from nine different markets.
While Cronos managed to recover most of the stolen funds ($111.2 million), about $9.1 million is still missing, especially assets that hackers moved off the network.
Cronos paused blockchain, reverted 10,961 blocks
To deal with the mess, Cronos actually paused its blockchain and rolled it back almost two hours, reversing 10,961 blocks and all transactions during that window to restore balances before the attack.
This move aimed to protect users' funds but also reversed all activity during that window.
Meanwhile, security firm PeckShield says August alone saw 50 cryptocurrency hacks with losses of $136.3 million, showing just how important stronger security is for anyone in the cryptocurrency world right now.