Echo Protocol Investigates Security Incident on Monad

Echo Protocol is currently investigating a security incident affecting its cross-chain bridge on Monad. According to ChainCatcher, all cross-chain transactions remain suspended during the investigation. Previously, market reports indicated that Echo Protocol was hacked on Monad. The attacker minted 1,000 eBTC and deposited 45 eBTC into Curvance. Using this as collateral, they borrowed approximately 11.29 WBTC, which was then bridged to Ethereum and exchanged for ETH. Ultimately, 384 ETH was transferred to Tornado Cash. SlowMist founder Yu Jian suggested that the theft might have been caused by the compromise of an admin single-point private key.