Bitcoin DeFi protocol Echo Protocol says it suffers a major exploit on its Monad blockchain deployment after an attacker mints unauthorized eBTC. CoinDesk and Decrypt both report that the incident involves roughly 1,000 unauthorized eBTC being created, totaling about $76 million to $77 million in value. Both sources attribute the minting activity to compromised administrative access rather than a public smart-contract attack on end users. Echo Protocol states that an admin key used for the eBTC minting process was compromised, allowing unauthorized minting on Monad. The reports also indicate that the affected tokens are eBTC, a Bitcoin-linked asset issued within Echo Protocol’s ecosystem on Monad. The outlets present the incident as an on-chain minting event driven by administrative control, consistent across both accounts. The coverage does not provide further confirmed details beyond the reported amount minted and the stated cause of compromised key access. Echo Protocol has not been described in these excerpts as having fully completed remediation at the time of reporting, but the protocol’s explanation centers on the administrative key compromise enabling the minting attack.
Echo Protocol reports $76M exploit from unauthorized eBTC minting on Monad
Bitcoin DeFi protocol Echo Protocol says it suffers a major exploit on its Monad blockchain deployment after an attacker mints unauthorized eBTC. CoinDesk and Decrypt both report that the incident inv...
- Echo Protocol reports an exploit involving unauthorized eBTC minting on the Monad blockchain.
- The amount minted is reported as about 1,000 eBTC, worth roughly $76 million to $77 million.
- Both sources say the attacker used a compromised admin key rather than ordinary user activity.
- The unauthorized tokens are eBTC issued within Echo Protocol’s Monad deployment.
- Reports describe the event as an administrative-control minting attack on Echo’s Monad setup.
Echo Protocol said that a compromised admin key had enabled unauthorized eBTC minting on its Monad deployment.
3 months agoThe Bitcoin-focused DeFi protocol suffered an attack whereby about 1,000 unauthorized eBTC $77 million were minted on the Monad blockchain
3 months ago
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