threat-intel
Fraudsters steal $6 million from Tectonic crypto platform after inflating token price
High
Summary
Fraudsters exploited a vulnerability in the Tectonic crypto platform, inflating the price of the Tonic coin and leveraging the inflated value as collateral to steal approximately $6 million. The Cronos blockchain temporarily halted activity to prevent further losses, and the platform has since been restored to its previous state, though a portion of the stolen funds remains on the blockchain. The incident mirrors a similar attack on Mango Markets in 2022.
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