Echo Protocol Exploited on Monad, Hacker Mints $76M eBTC and Drains Funds
Echo Protocol on Monad was exploited, with the hacker minting 1,000 eBTC tokens worth $76 million. The attacker then deposited eBTC into Curvance, borrowed WBTC, bridged it to Ethereum, and swapped it for ETH.
First large exploit on @monad ⚠️ Hacker took over the eBTC token admin role, minted 1,000 fake BTC, and borrowed real WBTC against it on !@Curvance Same architectural shape as Resolv & KelpDAO at very different scale. https://t.co/57ri8bge9F
#PeckShieldAlert @dcfgod reports that @EchoProtocol_ was hacked on @monad The hacker minted 1k $eBTC ($76.7M) &, utilizing the tested flow, deposited 45 $eBTC ($3.45M) into Curvance. They then borrowed ~11.29 $WBTC ($867.7K) against it, bridged the $WBTC to #Ethereum, swapped them for $ETH, and sent
Crazy — another hack just happened! According to @dcfgod, @EchoProtocol_ on Monad was exploited. The hacker: minted 1,000 $eBTC ($76.64M) on Monad; deposited 45 $eBTC ($3.45M) into Curvance; borrowed 11.3 $WBTC ($867K) from Curvance; bridged the 11.3 $WBTC to Ethereum and swapped it for 385 $ETH (
Three major hacks in just 4 days! On May 15, #THORChain was exploited, with stolen funds exceeding $10M. On May 18, the Verus-Ethereum Bridge (@VerusCoin) was hacked, with ~$11.5M stolen. Today, @EchoProtocol_ was exploited, the hacker minted 1,000 $eBTC ($76.64M) and has already used it to steal