Echo Protocol Suffers $76.7 Million eBTC Exploit on Monad via Compromised Admin Key

According to Echo Protocol's official statement, the protocol suffered a major exploit in May after attackers minted approximately 1,000 eBTC tokens worth $76.7 million through a compromised administrator key tied to its Monad deployment. On-chain analysts identified abnormal minting activity, and security researchers found the attacker deposited eBTC into the Curvance lending protocol before bridging assets to Ethereum and routing funds through privacy mixers. Echo Protocol estimated roughly $816,000 in assets were successfully siphoned before mitigation measures took effect.

Echo Protocol has suspended all cross-chain transactions on its Monad deployment while upgrading bridge contracts and strengthening permission controls. The protocol burned 955 eBTC remaining under attacker control and confirmed the compromise was isolated to the Monad-based eBTC system; Aptos-based assets were unaffected. Monad's core infrastructure remained secure.