Echo Protocol Investigates Monad Bridge Security Incident, Halts Cross-Chain Transactions
Summary
- Echo Protocol said it is investigating a security incident involving the Echo Bridge built on Monad (MON).
- Echo Protocol said it has suspended all cross-chain transactions while the investigation is underway.
- Onchain Lens reported that about 1,000 eBTC were minted without authorization on Echo Protocol, with signs of fund theft estimated at about $76.7 million.
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Echo Protocol, a decentralized finance project built on Monad (MON), said it is investigating a security incident involving its bridge.
In a post on X on May 18, the project said the incident occurred on the Monad-based Echo Bridge and that all cross-chain transactions have been suspended while the investigation continues.
It added that updates will be provided through its official channels as more information becomes available.
Earlier, Onchain Lens, citing DeFi analyst dcfgod, reported that about 1,000 eBTC had been minted without authorization on Echo Protocol and that signs of fund theft using those tokens had been identified. Estimated losses are currently about $76.7 million.
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