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Cronos details $9.19M leaving its chain before Tectonic rollback

The post-mortem says manipulated collateral drove about $120.4 million in borrowing, with $111.2 million reversed and 7.6% of affected funds still outside the network after the rollback.

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Cronos has published a post-mortem on the Tectonic exploit, saying about $9.19 million left its blockchain before validators halted the network during the incident, leaving funds that were not reversed by the rollback. Cointelegraph said the disclosure provides an official accounting after earlier estimates had pegged the amount affected at roughly $75 million.

According to the post-mortem, manipulated collateral values generated approximately $120.4 million in borrowing activity on the affected lending setup. When the chain was restored to its pre-exploit state, Cronos said about $111.2 million was reversed, with the remaining 7.6% of the affected funds outside the network.

Cronos also tied the timing to specific events, saying Tectonic detected the activity at 12:49 UTC on Aug. 30, and validators halted block production at 14:32:47 UTC. Cronos said block production resumed at 23:49:01 UTC after balances were restored.

Cointelegraph noted the scale of the outflow and said the $9.19 million transferred off-chain is above $8.3 million previously traced to Ethereum by blockchain data provider Bitquery. The report also referenced Bitquery analysis that described an attacker depositing $5 million and using a repeated borrow and redeposit loop involving TONIC, while TONIC’s price rose sharply as Tectonic’s price feed followed.

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