Echo Protocol Suffers Attack on Monad, Hacker Mints 1,000 eBTC Worth $76.7M

According to Onchain Lens, Echo Protocol on Monad was attacked today. The attacker minted 1,000 eBTC valued at approximately $76.7 million and exploited a previously tested attack vector to extract funds via Curvance. The attacker deposited 45 eBTC as collateral to borrow 11.29 WBTC worth $867,700 and bridged the funds to Ethereum, converting them to ETH and sending 385 ETH (approximately $818,000) to TornadoCash. The attacker continues to hold a significant portion of the minted eBTC.