Bitcoin DeFi Platform Echo Protocol Hit By $76M Monad Exploit
Echo Protocol said that a compromised admin key had enabled unauthorized eBTC minting on its Monad deployment.
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Echo Protocol said that a compromised admin key had enabled unauthorized eBTC minting on its Monad deployment.
Echo Admin key compromise enabled $76.7M unauthorized eBTC minting. The attacker used fake eBTC to borrow and bridge real crypto assets. ECHO token dropped sharply as panic selling hit the market fast. The ECHO token came under severe pressure after a major security breach tied to the Echo Protocol led to the unauthorized minting of […] The post ECHO token plunges after $76M admin key exploit hits protocol appeared first on CoinJournal.
The hacker has already laundered nearly 5% of the loot through Tornado Cash and is still holding the remaining 955 eBTC.