I've had chipping like that, but never the entire blank. It's makes a helluva noise when it happens, and I always stop. Usually, I'm able to finish it by taking lighter cuts, as long as the chipping isn't too deep. Like others, that looks like a brittle blank to me. Rhino, polyester resin, inlace acrylester, or some such. Acrylic acetate is softer, and rarely chips like that, at least for me. I'm famous for being too aggressive, for trying to take too much material with each cut. That usually gets me in trouble. Lately I've been using a 15mm square carbide cutter with a 2" radius. But I've started holding the cutter at a 45 degree angle to the blank, instead of straight on. This produces a "shearing" cut, which is giving me better results.