🚨 Yesterday, an attacker took USD 75 million from Tectonic, a lending protocol on Cronos. TONIC traded USD 18,316 on August 29. The attacker pushed its price roughly 100x in about 20 minutes, posted the inflated token as collateral, and borrowed against it. The borrow came to 245 times the prior week's trading volume. Cronos halted the chain at block 90907150. Roughly USD 6 million had already reached Ethereum through USDC, about 2,592 ETH. The remaining USD 68.7 million stayed on Cronos and was reversed in the rollback. Tectonic is the 32nd price manipulation exploit TRM Labs has tracked in 2026, more than any previous year. Drift Protocol lost USD 285 million in April. Moonwell on Base lost USD 8.7 million on August 27. Full in-depth analysis from TRM Labs here: