Cronos, the Crypto.com-backed blockchain, deliberately erased nearly two hours of transaction history to recover approximately $111.2 million drained in an exploit of DeFi lending protocol Te
Cronos, the Crypto.com-backed blockchain, deliberately erased nearly two hours of transaction history to recover approximately $111.2 million drained in an exploit of DeFi lending protocol Tectonic, according to a post-mortem the network published on Monday.
On August 30, attackers targeted Tectonic, a platform that allows users to borrow cryptocurrency against deposited collateral. According to the post-mortem, the attacker artificially inflated the price of TONIC tokens in decentralized exchange markets with thin liquidity, then used the overvalued collateral to borrow approximately $120.4 million across nine separate markets.
