One wave hasn’t settled, and another wave rises. The Fogo chain has yet to resume block production, and now its unfortunate sibling, @CronosApp chain, has also been forced to shut down due to an attack. Cronos is an L1 chain incubated by the CEX @cryptocom, built on the Cosmos tech stack. The attacker manipulated the price of the governance token tectonic:native on Cronos’ lending protocol @TectonicFi to carry out collateralized lending. The method is strikingly similar to the attack on the Base chain’s @MoonwellDeFi protocol not long ago. According to mainstream analysis, the attacker borrowed assets worth up to $75 million from the protocol, with approximately $6 million already bridged to Ethereum. Currently, the entire Cronos chain is shut down, and about $70 million remains on the Cronos chain. As expected, the bad debt will likely be borne by Tectonic’s depositors once again.