Echo Protocol suffered a Supply Chain attack, nearly $270 million in Bitcoin assets were stolen.

GasWrangler · 2025-06-14T11:56:25+00:00

Echo Protocol recently suffered a Supply Chain attack, with its held Bitcoin Wallet being maliciously breached, causing the collateral rate to drop to 20%. The platform has suspended withdrawal operations and initiated an emergency investigation, collaborating with security experts to handle the incident, and will launch a bounty program to track the stolen assets.

GasWrangler

2025-06-14 11:56:25

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On June 14, Echo Protocol, a bitcoin liquidity repledge and yield layer, said that its wallet holding 2515.648579 uBTC (currently valued at about $266,658,749.37 billion) suffered a highly sophisticated supply chain attack and has been maliciously compromised. The team has initiated an urgent investigation and will issue an incident review report as soon as possible. At present, the collateral ratio of the platform’s vault has been reduced to 20%, and in order to ensure the security of the system, all withdrawal operations will be suspended from midnight EST. Echo Protocol said it is working closely with auditors and security experts on the incident, and will announce a bounty program at a later date to encourage those in the know to help trace the stolen assets.

BTC0,33%

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