Echo Protocol Exploit: $77M Stolen via Admin Key Compromise
Echo Protocol suffered a $77 million exploit today, stemming from an admin key compromise. The attacker minted 1,000 unauthorized eBTC on the Monad network. These tokens were used as collateral to borrow Wrapped Bitcoin (WBTC), which was then bridged to Ethereum and laundered through various methods, including Tornado Cash. As a result, most of the stolen eBTC was destroyed and bridge operations were suspended.
Detected & updated continuously · Source: Ruma
Echo Protocol (echo)
eBTC (ebtc)
Wrapped Bitcoin (wbtc)
Ethereum (eth)
Tornado Cash (torn)Sources
@Cointurknews
🚨 Echo Protocol suffered a $77 million eBTC hack. The attacker minted 1,000 eBTC and used them to borrow WBTC. Most stolen eBTC was destroyed and bridge operations were suspended. 🔑 Key point: Security concerns and risks in $BTC DeFi are rising.
@btcnews2trade
The Echo Protocol exploit on Monad just got worse. 📉💸 New details show the attacker didn't just mint 1,000 eBTC—they used it as collateral on Curvance to borrow WBTC, bridged to Ethereum, and have already funneled 384 ETH straight into Tornado Cash. 🌪️ Worse yet? SlowMist
@habermuhendisim
⚠️ KRİTİK GELİŞME Monad üzerindeki Echo Protocol, admin key sızıntısı sonrası saldırıya uğradığını açıkladı. Saldırganın izinsiz şekilde 1.000 eBTC mint ettiği, bunun bir kısmını teminat göstererek WBTC borçlandığı ve yaklaşık 821,7 bin dolarlık ETH’yi Tornado Cash üzerinden https://t.co/S1MH3AAUCO
@mpost_io
👾 #Bitcoin-focused #DeFi protocol @EchoProtocol_ suffered an exploit. The attacker minted 1,000 $eBTC — the project’s $BTC liquidity token issued on @monad — and deposited 45 $eBTC into #DeFi lending protocol @Curvance as collateral to borrow around 11.29 $WBTC, worth roughly https://t.co/NQMKThr0Au
@zakariyasharif9
🟥 Echo Protocol ayaa lagu hack gareeyay shabakadda Monad, kadib markii hacker-ku sameeyay (mint) 1000 eBTC oo qiimahoodu gaarayo ku dhawaad $76.7 milyan. 🟢 Qayb ka mid ah lacagtaas ayuu u isticmaalay collateral gudaha Curvance si uu ugu amaahdo WBTC, kadibna wuxuu lacagta u https://t.co/SFqRIDX45q
@raintures
$77M out of Echo Protocol today caused by an admin key compromise. Attacker minted 1,000 unauthorized eBTC on Monad and used 45 as collateral on Curvance. Then borrowed wBTC against it and bridged to Ethereum. - 384 $ETH already through Tornado Cash - 955 eBTC still sitting in https://t.co/d5iIlVLrbH
@CryptoNewsHntrs
ECHO PROTOCOL JUST GOT EXPLOITED HARD! Attacker minted 1,000 $eBTC worth $76.64 MILLION out of thin air. They dumped 45 into Curvance, borrowed 11.3 $WBTC, bridged it, swapped for 385 $ETH, and rinsed it through Tornado Cash. 955 $eBTC (~$73.2M) STILL SITTING IN THE ATTACKER'S https://t.co/zzxVH49qFf