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Echo Protocol confirms attack, suspends all cross-chain transactions

2026-05-19 05:13:13

Abstract generation in progress

May 19 News, Echo Protocol announced that it is investigating a security incident affecting the Echo cross-chain bridge on Monad. During the investigation, all cross-chain transactions remain suspended. Previously reported, according to PeckShield monitoring, Echo Protocol was hacked on Monad. The attacker minted 1,000 eBTC (approximately $76.7 million) and used a tested process to deposit 45 eBTC (about $3.45 million) into Curvance. Subsequently, they collateralized this to borrow about 11.29 WBTC (approximately $867.7k), bridged the WBTC to Ethereum, exchanged it for ETH, and finally transferred 384 ETH (about $82,170) to Tornado Cash. SlowMist founder Yu Ceng stated that Echo Protocol may have been compromised due to the admin's single private key being compromised.

ECHO-11.21%

MON0.44%

WBTC0.22%

ETH-0.21%

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