Echo Protocol has reported unauthorized minting of eBTC on Monad, resulting in a loss of approximately $816,000. The incident, attributed to a compromised admin key, has prompted the protocol to take immediate action, including key recovery and contract upgrades. Echo Protocol emphasized that the Monad network itself remains unaffected and operational.
In response, Echo has paused cross-chain functionality for Monad and upgraded contracts to enhance security. The protocol has also paused Aptos bridge operations as a precaution, despite no evidence of compromise on Aptos. Echo is conducting a comprehensive review of its infrastructure and working with security partners to assess the incident's scope. Users are advised to avoid unofficial links and remain vigilant as the investigation continues.
Echo Protocol Reports $816K Loss Due to Unauthorized eBTC Minting on Monad
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