The DeFi protocol Echo on Monad got hacked. The attacker illegitimately minted 1,000 eBTC tokens and used 45 of them as collateral for a 11.29 WBTC loan on the Curvance protocol.
WBTC was bridged to Ethereum, swapped for ETH, and laundered through Tornado Cash. About $816,000 was stolen — the remaining 955 eBTC worth $73 million are still held by the attacker but can't be withdrawn due to Monad's liquidity issues.
The Curvance team assured that the isolated market architecture protected the other positions. Monad is conducting an investigation, emphasizing that the network itself wasn't compromised.$ETH $BTC $EDEN #Write2Earn #crypto
WBTC was bridged to Ethereum, swapped for ETH, and laundered through Tornado Cash. About $816,000 was stolen — the remaining 955 eBTC worth $73 million are still held by the attacker but can't be withdrawn due to Monad's liquidity issues.
The Curvance team assured that the isolated market architecture protected the other positions. Monad is conducting an investigation, emphasizing that the network itself wasn't compromised.$ETH $BTC $EDEN #Write2Earn #crypto