News linked to both this project and an event.
According to an official tweet from Cronos Network, the Cronos network was previously affected by a vulnerability exploit targeting the Tectonic protocol. Validator consensus triggered an emergency halt to block production to protect user assets. The on-chain state has been rolled back to pre-exploit levels, and the network resumed block production at 07:49 Beijing Time on August 31, 2026, starting from block height 90,896,189. Node operators can now upgrade to Cronos v1.7.8 and use the latest mainnet snapshot to restart their nodes. The network remains under continuous monitoring, with select protocols, RPC providers, block explorers, and cross-chain bridges gradually recovering. A full post-mortem report will be released by the team in the near future.
According to The Block, the DeFi lending protocol Radiant Capital has announced it will officially cease operations. The protocol suffered a hack in October 2024, losing approximately $51 million; the attacker gained unauthorized access by deploying backdoor contracts on Arbitrum and BNB Chain. Earlier in 2024, the protocol had also been hit by a flash loan attack, resulting in a loss of roughly 1,900 ETH (approximately $4.5 million). After 18 months of recovery efforts, Radiant Capital stated that it has neither recovered a significant portion of the stolen funds nor secured new financing, declaring that “the DAO has no viable path forward.” The protocol will now enter a “maintenance mode”: its frontend and smart contracts remain accessible, allowing users to withdraw funds, repay loans, and manage positions. Any funds recovered in the future will be returned to affected users.
Ranger Finance co-founder cobra stated that Ranger Finance is winding down operations. Some personnel and vendors who collaborated with, built, and supported the project have not received full payment. He explained that during periods of cash shortage, the founders personally injected funds to keep operations running and advanced fundraising efforts within MetaDAO; however, the delayed fundraising led to an accumulation of unpaid bills. After the fundraising was completed, the project only secured approximately two months of runway before the funds were returned. Ranger Finance noted that treasury liquidation exceeded expectations, negatively impacting employees, vendors, and growth budgets. Subsequently, the Drift vulnerability further hampered project progress. Vault users affected by the Drift vulnerability will receive recovered tokens when distributed by the Drift team.
DeFi project Carrot announced it will cease operations due to the significant operational impact caused by the Drift vulnerability exploit. Carrot has set May 14 as the deadline for users to withdraw remaining funds from Boost, Turbo, and CRT. Following this, the platform will begin deleveraging its system—reducing all leverage to zero—to free up liquidity for CRT redemptions. Carrot stated that user-deposited funds remain the property of users; should Drift pursue any subsequent recovery measures, related funds will still be distributed per prior announcements.