🚨 Cronos halts chain after $75M drain
An attacker pumped Tectonic's thin TONIC token 100x, then used it as collateral to borrow real assets against fake value.
Validators froze the network mid-exploit, a move that stops the bleeding but guts the "unstoppable code" pitch.
Thin-liquidity tokens as collateral remain the easiest exploit in DeFi, and chains keep learning this the hard way.
Watch whether frozen funds ever move, because a halt without a clawback is just a slower rug.
August 31, 2026 28
