Cronos Network halts blockchain after Tectonic exploit

Cronos Network halted its blockchain after an exploit targeted the Tectonic decentralized lending protocol. The network said it identified the exploit and paused operations. The network said it would provide updates. Tectonic urged users not to interact with the protocol until it confirmed that the protocol was safe. Tectonic recommended that users revoke token approvals granted to its contracts. Tectonic warned that user funds may be at risk. Initial analysis indicates that the attacker exploited Tectonic's governance token TONIC through a price manipulation attack. The attack caused TONIC's price to surge 100x in 20 minutes.