ChainCatcher report: According to Onchain Lens monitoring, Echo Protocol on the Monad chain has been attacked. The attacker minted 1,000 eBTC ($76.7 million) and exploited a previously tested attack vector to withdraw funds from Curvance. Currently, the attacker has deposited 45 eBTC ($34.5 million) as collateral into Curvance, borrowed approximately 11.29 WBTC ($867,700), and bridged it to Ethereum, where it was exchanged for ETH and subsequently sent 385 ETH (~$818,000) to TornadoCash. The attacker still controls a large amount of the minted eBTC.
Echo Protocol on Monad Chain Hacked; Hacker Mints 1,000 eBTC Worth $76.7M
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Summary
The Echo Protocol on the Monad Chain suffered a major exploit, during which attackers minted 1,000 eBTC worth $76.7 million. The hacker deposited 45 eBTC ($3.45 million) into Curvance, borrowed 11.29 WBTC ($867,700), and transferred the funds to Ethereum. A total of 385 ETH ($818,000) was sent to TornadoCash. On-chain data shows the attacker still holds a significant portion of the minted eBTC. The incident underscores the urgent need for a protocol update to prevent similar exploits.
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