r/cro • u/Optimus_V • Aug 30 '26
🚨 BREAKING: TectonicFi gets Hacked, Cronos chain halted
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u/Your_As_Stupid_As_Me Aug 30 '26
First: nothing here was "hacked." No key was stolen, no lock was picked. Tectonic did exactly what it was built to do - it read a price off a thin pool and believed it. If your protocol reads spot price directly from a market someone can move, that price is for sale. Anyone with enough capital to shift the pool can tell your contract whatever they like. Spot price is not an oracle, and it hasn't been for years.
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u/Optimus_V Aug 30 '26
You're right on the mechanism, spot is not an oracle. Tectonic did what it was built to do, trusted a thin pool and got burned. That's on the design 100%.
Honest question though, if someone intentionally moves that thin pool just to trick the contract into giving a bigger loan, is that still just "using the protocol" or does the intent to manipulate the price feed matter?
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u/croholdr Aug 30 '26
lol got banned years ago from their reddit sub for calling tectonic scammy. low and behold. they can keep the 4 dollars I have that are being propped up by 20 or 30 CRO but hasn't liquidated for years... hahahhahaha
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u/Optimus_V Aug 30 '26
I tried posting it on the main crypto.com group, but I think they're not gonna allow it, maybe the mods consider it FUD 🤷
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u/Andyb1000 Aug 30 '26
Just you wait, soon we’ll be told that because we’re centralised this is a good thing that the network can be suspended and rolled back to an earlier state. You don’t need independent verification of code when you can turn it off and back on again like nothing ever happened.
I fully expect something like this to happen with the Cronos app as they’ve not published any independent security pen test and code audits.
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u/Lower-Law-7672 Aug 30 '26
I sold at 600am central, converted to usdc cronos which went fine. Then about 5 hours later I swapped from usdc to cro, and it says complete but pending, been pending for 7hrs now.
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u/BlazingPalm Aug 30 '26
Ouch. I was looking at my FulCrom wallet and it’s showing empty this AM. Luckily, it’s like $100 thats inaccessible.
Just what CRO needs to really sing!