- More than $74 million in crypto assets was borrowed from Tectonic after manipulation of the TONIC price.
- After the attack, crypto assets deposited on Tectonic plunged from $122 million to about $3 million.
- Crypto.com’s CEO said the incident did not affect the centralized exchange and that all customer assets remain safe.
Forecast Trend Report by Period
Tectonic, a decentralized lending platform linked to Crypto.com, was hit by a price-manipulation attack that allowed more than $74 million of crypto assets to be borrowed from the protocol. At least $6 million was ultimately moved to the Ethereum network.
Bloomberg reported on Aug. 31, citing blockchain security firm…
