Incident Response Cronos network resumes activity after $74 million lending exploit September 1, 2026 Share By SC Staff Credit: Adobe Stock Images The Cronos blockchain network has resumed trading activity following a price-manipulation attack on the Tectonic cryptocurrency lending platform that allowed an attacker to borrow $74 million. The threat actor artificially inflated the price of Tectonic's TONIC token, using it as collateral to borrow real assets within 20 minutes, with further coverage provided by Bleeping Computer. The attacker exploited the Tectonic platform, a decentralized finance lending application on the Cronos network, by inflating the price of the TONIC token by 100 times. This allowed them to borrow approximately $74 million in assets. However, blockchain security firm PeckShield reported that only about $6 million worth of Ethereum was successfully stolen, with the remainder of the funds becoming inaccessible on the Cronos network. In response to the exploit, Cronos halted the blockchain to prevent further damage and restore the chain to its state before the incident. The network has since restarted, producing blocks again after a validator-consensus emergency action. Tectonic, previously the largest lending protocol on Cronos with $122 million in total value locked, now holds under $3 million. The incident highlights the risks associated with price manipulation in DeFi protocols and the potential impact on network stability. Source: Bleeping Computer SC Staff Related Incident Response Boston Scientific operations disrupted by ongoing cyberattack SC Staff August 26, 2026 The cyberattack on Boston Scientific has caused a global disruption to the company's IT systems and business applications. Data Security Unified vision: An executive playbook for data risk management Paul Wagenseil August 26, 2026 Fragmented efforts following a data incident will lead to confusion and high legal bills. Here's a better approach. SOC The agentic SOC: How to build machine-speed defense for the AI era Paul Wagenseil August 21, 2026 Here's how security-focused AI agents can help, not replace, human SOC analysts. Related Events Cybercast Inside 1,500+ incidents: When trusted tools become attack vectors On-Demand Event Get daily email updates SC Media's daily must-read of the most current and pressing daily news Business Email By clicking the Subscribe button below, you agree to SC Media Terms of Use and Privacy Policy . Subscribe Related Terms Boot Record Infector Computer Emergency Response Team (CERT) Stimulus You can skip this ad in 5 seconds