Cronos halts network after Tectonic exploit involving estimated $75M

Cronos has halted its blockchain network following a significant exploit on the Tectonic lending app, which resulted in an estimated loss of $75 million. Despite the breach affecting the Tectonic platform, Crypto.com CEO Kris Marszalek confirmed that the company's exchange and main application remained unaffected. These services continued to operate normally while the network was paused to address the security incident. The event highlights a major vulnerability within the Tectonic lending ecosystem on Cronos.