Analysis Today TheBitTimes.com

The Crypto.com-supported Cronos blockchain had to halt and rewind its history this week to stop an ongoing theft due to the Tectonic protocol that Crypto.com had spent months promoting. Tectonic warned users to pause using its protocol altogether. PeckShield first estimated the value of compromised funds at approximately $74 million. Crypto.com supplied one of the largest retail onramps for Tectonic, this newly compromised protocol that nearly drained tens of millions of dollars from Cronos’ DeFi ecosystem. As fear about the hack has spread, Cronos’ CRO token has lost 6% of its value over the past 24 hours. Kris Marszalek’s Crypto.com exchange proudly offered TONIC purchases through more than 20 fiat currencies. Crypto.com advertised TONIC-denominated Visa card spending at 80 million merchants. It listed TONIC for trading on its main exchange, advertised staking returns of up to 100% per annum, and promoted staking rewards within its Crypto.com DeFi Wallet. ...

On-chain investigator ZachXBT alleged this morning that BitcoinIRA and iTrustCapital suffered data breaches this year without disclosing the incidents to their customers. ZachXBT claimed that threat actors accessed personal details from the crypto retirement services, such as customers’ portfolio holdings, banking details, custodian details, and verification status. Once he was confident that the breaches occurred, the researcher emailed both platforms on August 21. After three days of no response, he published the alert publicly today. iTrustCapital responded to the allegations via X, writing, “ITrustCapital has not experienced and is not aware of any recent third-party vendor data breaches affecting our platform. “Our multi-step closed-loop system is designed to mitigate losses for clients who may be targeted, phished, scammed or compromised at a personal level.” BitcoiIRA hadn’t responded publicly by publication time. Who are the...