According to CoinMeta, based on the official incident review by Tectonic, on August 30th, attackers took advantage of the thin liquidity in the Tonic market. They borrowed and re-mortgaged Tonic 98 times within a single transaction, subsequently driving up the collateral value reported by the oracle by about 195 times. As a result, they were able to borrow assets with a notional value of approximately $120.4 million from nine lending markets. Cronos then suspended the network for recovery, restoring the stolen assets remaining on the chain to their pre-attack state. However, about $9.19 million had already been transferred to Ethereum before the network was shut down and has not yet been recovered. Tectonic pointed out that the root causes included allowing the same asset to be borrowed, lent, and mortgaged repeatedly within a single transaction, using spot prices without a collateral limit linked to market depth, and the lack of protection mechanisms against rapid price fluctuations. Currently, the protocol remains suspended for supply and borrow, while withdraw and repay remain open.