Echo Protocol on Monad suffers attack; hacker mints 1,000 eBTC worth $76.7M

KuCoinFlash

Release Time: 05/19/2026 00:15:47

Summary

The Echo Protocol on Monad has been attacked, marking a major on-chain event. The attacker minted 1,000 eBTC, worth $76.7 million, and drained funds via Curvance using a previously tested method. The attacker deposited 45 eBTC as collateral, borrowed 11.29 WBTC ($867,700), bridged it to Ethereum, swapped it for ETH, and sent 385 ETH ($818,000) to Tornado Cash. A significant portion of the minted eBTC remains under the attacker’s control. The incident underscores the urgent need for a protocol update to address existing vulnerabilities.

Odaily Planet Daily reports, according to Onchain Lens monitoring, Echo Protocol on Monad has been compromised. The attacker minted 1,000 eBTC, valued at $76.7 million, and extracted funds via Curvance using a previously tested attack vector.

To date, the attacker has deposited 45 eBTC as collateral into Curvance and borrowed approximately 11.29 WBTC, valued at $867,700; subsequently, this WBTC was cross-chain transferred to Ethereum, exchanged for ETH, and 385 ETH—valued at approximately $818,000—were sent to Tornado Cash. The attacker appears to still control a significant amount of minted eBTC.

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