Three Major DeFi Attacks in Five Days, 14 Hacks Reported in May 2026

ChainCatcher report: Echo Protocol suffered a vulnerability exploit on the Monad network, with attackers minting 1,000 eBTC (valued at approximately $76.64 million). According to PeckShield tracking, the attacker deposited 45 eBTC (approximately $3.45 million) into Curvance, borrowed 11.29 WBTC, then bridged it to Ethereum and exchanged it for ETH, with 384 ETH transferred to Tornado Cash. Curvance has suspended the affected market, stating that its smart contract was not compromised and other markets remain unaffected. Echo Protocol has paused all cross-chain transactions. Monad CEO Keone Hon clarified that the vulnerability did not affect the Monad network itself, and security researchers estimate the actual loss at approximately $816,000. This incident brings the total number of cryptocurrency hacks in May to 14, including three major DeFi attacks in just the past five days: THORChain suffered a treasury exploit on May 15 resulting in losses exceeding $10 million, and the Verus Ethereum cross-chain bridge was attacked three days later, losing approximately $11.58 million. The concentrated security incidents highlight the ongoing systemic security risks facing the DeFi sector.