Tectonic (Cronos): TONIC collateral pumped about 100x, chain rolled back

What happened

• 30 Aug 2026: the attacker inflated thinly traded TONIC about 100x in about 20 minutes and borrowed across nine markets, USD 120.4M in total per Cronos’s post-mortem. Last block 90,907,150 at 14:32:47 UTC.
• Root cause: collateral price manipulation. TRM notes TONIC traded about USD 305K the prior week, yet kept a 20% collateral factor since Feb 2022.
• Attribution: TRM says available evidence does not support naming an actor.
• Response: validators halted Cronos and rolled back to block 90,896,188, erasing 1h54m (10,961 blocks) of history and reversing about USD 111.2M. About USD 9.19M had already left the chain and is unrecovered.

Sources

• https://www.trmlabs.com/resources/blog/number-of-price-manipulation-attacks-hits-all-time-high-as-usd-75-million-is-stolen-from-tectonic
• https://theblock.co/news/ecosystems/2026-09-08-cronos-post-mortem-413724

This is a brief: a short, sourced summary from our incident tracking. Full advisories add commands to check whether you are affected.