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FollowingThe Cronos blockchain deliberately erased nearly two hours of transaction records in order to recover stolen funds.
According to an incident analysis report released by the Cronos Network on Monday, Cronos, a blockchain platform supported by Crypto.com, deliberately deleted nearly two hours of transaction history in order to recover approximately US$111.2 million in funds stolen during the DeFi lending protocol Tectonic vulnerability attack.
Attack details and capital flows
The report states that on August 30, attackers launched an attack on Tectonic, a platform that allows users to borrow cryptocurrency using deposited collateral as security. The attackers created a price bubble by artificially raising the price of TONIC tokens in the less liquid decentralized exchange market. They then used the overvalued collateral to lend approximately $120.4 million in assets in nine different markets.
