Echo Protocol on Monad Hit in Exploit; Attacker Mints 1,000 eBTC Valued at $76.7M

Echo Protocol, a project on the Monad chain, has been exploited, according to monitoring by Onchain Lens. The attacker minted 1,000 eBTC worth about $76.7 million and used an attack path that had reportedly been tested previously to pull funds from Curvance. On-chain data show the attacker deposited 45 eBTC (about $34.5 million) into Curvance as collateral, borrowed roughly 11.29 WBTC (around $867,700), and bridged the assets to Ethereum. The funds were then swapped into ETH, and 385 ETH (approximately $818,000) was sent to TornadoCash. The attacker is still believed to control a large portion of the newly minted eBTC.