BlockBeats report, on May 19, Echo Protocol announced that unauthorized activity occurred on its eBTC deployment on Monad, resulting in abnormal minting and fund losses. Preliminary investigations indicate the issue stemmed from compromised administrator keys related to the Monad deployment, with approximately $8.16 million in assets currently confirmed as affected.
Echo stated that the Monad network itself was unaffected and continues to operate normally. The team has regained control of the admin keys and destroyed the remaining 955 eBTC held by the attacker.
The project team further explains:
The current incident appears to be limited to Monad's deployment;
There is currently no evidence that Aptos side has been affected;
aBTC on Aptos and eBTC on Monad are independent, non-interoperable assets;
Aptos's current exposure is approximately $71,000.
As an additional security measure, Echo has suspended the cross-chain functionality of the Monad deployment and is upgrading the related EVM bridge contracts and permission control mechanisms. Users are also reminded not to interact with any unofficial claims, refund, or recovery pages.