$76M Echo Protocol exploit on Monad actual cashout = $816K hacker stuck with 95% of useless eBTC root cause single admin key no timelock no mint cap no rate limit stop calling this DeFi failure this is operational negligence

🚨BREAKING🚨 $ECHO just got slammed. The token dropped 11.9% After an exploit that allegedly allowed an attacker to mint 1,000 eBTC worth $76.7M. Another reminder that protocol security remains the biggest risk in crypto ecosystem. Markets reacting fast As traders assess the potential fallout. Stay sharp and SAFU.

#Monad Co-Founder Keone Hon Says #Echo Protocol’s eBTC Incident Under Investigation, Network Unaffected. He further stated that the review is still in progress, with early estimates indicating that around $816,000 may have been lost due to the exploit targeting Echo Protocol’s eBTC system. Meanwhile, it has been clarified that the Monad network itself remains unaffected and continues to operate normally.

🚨 Monad Got Exploited For $76M In eBTC Through Echo Protocol The address "0x6a0109d3c5ab56277096c75e8f5d1d1d45243415" is the hacker’s wallet Here’s the step-by-step flow: 1⃣ The attacker compromised an admin private key for Echo’s eBTC contract on Monad (likely due to poor key management using a single EOA instead of a multisig) 2⃣ They minted 1,000 fake/unbacked eBTC tokens (nominal value: ~$76.7M at current prices) 3⃣ They deposited 45 eBTC (~$3.45M) as collateral into Curvance, a lending protocol on Monad 4⃣ They borrowed ~11.29 WBTC (~$821K–$867K depending on the price at the time) 5⃣ They bridged the WBTC to Ethereum 6⃣ They swapped it into ETH 7⃣ They sent ~384–385 ETH (~$818K–$821K) to Tornado Cash to launder the funds The hacker still controls the remaining ~955 eBTC (most of the minted supply) Immediate aftermath: - Echo Protocol paused its cross-chain bridge and is investigating the incident - Curvance froze the eBTC market to protect other users - eBTC holders have been diluted because the newly minted tokens are unbacked, and lenders on Curvance may face bad debt

🚨Another big Exploit 🪙Hacker minted 1000 $eBTC just like that on @monad 🫪That's $76M 🤣Current supply of $eBTC - 1509 📥Deposited 45 $eBTC into Curvance 📤Borrowed 11 $WBTC 🌉Bridged $WBTC to Ethereum 🔄Swapped to $ETH 💸Sent 384 $ETH ($821.7K) to new wallet 😳Still have $75M hacked funds ⚠️Curvance have bad debt now ⚠️ $eBTC holders rekt ⚠️Chain reaction on Monad 🤷I think hackers r using new AI tech to identify bugs & back doors that's the reason we r seeing one hack every single day 🤔What do u think? Agreed? 💙Like 🔁RT

Dear DogeLayer Nodes, Miners, and BUIDLers 🛠️A few days ago, the DogeLayer network experienced a malicious attack where an exploiter used fabricated "fake miners" to disrupt our subnet and perform asset arbitrage. The vulnerability has been FULLY patched, the code is live, and this attack vector is completely closed.

🚨 Another hack in the crypto world. Echo Protocol was exploited for approximately $76 million USD after hackers gained access to the admin key, self-authorized minting rights, and created 1,000 fake eBTC tokens equivalent to around $76 million. The attackers then used a portion of these fake eBTC tokens as collateral on Curvance to borrow real WBTC, bridged it to Ethereum, swapped it for ETH, and transferred part of it through Tornado Cash to obscure the funds. Although over $76 million in fake eBTC was minted, the actual value drained from the system is estimated at only $820K to $870K due to low liquidity and limited lending depth. Crucially, Echo Protocol was exploited—not the Monad chain hacked. Echo Protocol is a DeFi application built on Monad, a Layer 1 blockchain. It is a BTCFi project that enables Bitcoin liquidity to enter DeFi via eBTC, a wrapped BTC token collateralized by actual BTC, usable for lending, collateralization, and cross-chain activities. In simple terms, the issue lies with Echo’s protocol and its smart contract admin/control permissions—not with the Monad blockchain itself.