Tectonic lending protocol on Cronos exploited for $75M via token price manipulation, allowing attacker to inflate TONIC collateral 100x and drain stablecoins and major assets.
Security & Exploits ·
On August 30, 2026, Tectonic, the largest lending protocol on Cronos, was exploited for $75M through token price manipulation. An attacker purchased illiquid TONIC tokens to inflate their value 100 times, then used the artificially inflated collateral to secure loans valued between $75M and $120M in USDC, USDT, Bitcoin, Ether, and CRO. The attack prompted Cronos to halt operations.