PeckShield: Echo Protocol on Monad Exploited, About $821,000 Laundered

Onchain security firm PeckShield (@PeckShieldAlert) reported that Echo Protocol on Monad was exploited. The attacker allegedly minted 1,000 eBTC worth about $76.7 million, then posted 45 eBTC (around $3.45 million) as collateral on Curvance to borrow roughly 11.29 WBTC (about $867,700). The WBTC was bridged to Ethereum, swapped into ETH, and 384 ETH (approximately $821,700) was sent to Tornado Cash.