Cronos Cancels 2 Hours of Transactions After a Hack

The validators of Cronos have canceled nearly 2 hours of transactions following an attack on the lending protocol Tectonic, which allowed a malicious actor to borrow $120 million by manipulating the price of the TONIC token. To protect user funds, they halted the network for 9 hours and restored the blockchain state to block 90,896,188, canceling approximately $111.2 million in impacted value. This operation managed to reverse 92% of the effects of the attack, with the attacker successfully transferring only $9.19 million out of the network. The decision to cancel already finalized transactions was difficult, raising questions about compensation for affected users.

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