Cronos Erased Two Hours of Transactions to Reverse $111 Million DeFi Exploit
Cronos, a Crypto.com-backed blockchain, rolled back nearly two hours of transaction history to recover funds linked to a Tectonic lending-protocol exploit. Validators reversed 10,961 blocks and discarded 1 hour 54 minutes of settled transactions, restoring about $111.2 million tied to roughly $120.4 million in borrowing activity. The attack inflated TONIC’s price in thin decentralized markets, then used that inflated collateral to borrow across multiple markets. About 92% of affected funds were still on-chain and could be restored, but roughly $9.19 million had already left Cronos before the network was halted and remains unrecovered. Block production resumed after about nine hours offline using patched software. Cronos said the rollback also reversed legitimate transactions during that period and acknowledged poor communication during the shutdown.
