Echo Protocol Hacked: $76.7 Million in eBTC Minted and Laundered

PeckShieldAlert posted on X that Echo Protocol experienced a significant security breach on the Monad platform. The hacker managed to mint 1,000 eBTC, valued at $76.7 million. Following the breach, the hacker deposited 45 eBTC, worth $3.45 million, into Curvance. Utilizing this deposit, the hacker borrowed approximately 11.29 WBTC, equivalent to $867,700, and subsequently bridged the WBTC to the Ethereum network. The stolen funds were then swapped for ETH, with 384 ETH, valued at around $821,700, being sent to Tornado Cash, a service known for its privacy features.