News linked to both this project and an event.
Odaily News: Sheldon Lee, founder of cryptocurrency exchange BitMart, stated that a post on X claiming users were unable to withdraw funds and that some employees had not received their July salaries is a "fabricated rumor," adding that the exchange's Chinese-language account had been hacked. Critics, including users and on-chain investigator ZachXBT, have demanded that BitMart resume withdrawals or undergo an independent third-party audit. BitMart is gradually winding down operations, with the final trading day set for August 26. Troubled investment firm Echo Base said it had proposed a funded restructuring plan to BitMart but received no response. The firm warned that resolving a large volume of customer claims may require proceedings through the courts. (CoinDesk)
Echo Protocol announced that the team has now regained control of the administrative keys and destroyed the remaining 955 eBTC held by the attacker. Additionally, the current exposure on Aptos is limited to approximately $71,000 in the Echo lending market and the Hyperion liquidity pool, and the team has observed no fund losses on Aptos. As a precautionary measure, the team has fully suspended Aptos bridge operations while the review remains ongoing. Echo Aptos Lending remains unaffected but has been paused for security reasons.
Odaily Echo Protocol posted on X platform, confirming a security incident on the Monad cross-chain bridge. An investigation is currently underway, and all cross-chain transaction functions have been suspended. The protocol stated that it will continue to provide updates through official channels once the investigation progresses.
Curvance posted on platform X, stating that at approximately 6:00 PM EST today (Beijing time), it noticed an anomaly in the Echo eBTC market on the Curvance platform. Currently, there are no indications that the Curvance smart contract has been attacked or compromised. Due to its fully isolated market architecture, other markets remain unaffected. As a precautionary measure, the team has suspended the affected market and is investigating the cause of the incident together with ecosystem partners. Further updates will be announced as more information becomes available.
Odaily Odaily News Monad co-founder Keone Hon posted on the X platform, stating that the team has noted a security incident related to eBTC on EchoProtocol. Security researchers are currently investigating the matter. The Monad network itself has not been affected and is operating normally.Additionally, a preliminary review by security researchers determined that this exploit targeting EchoProtocol's eBTC has resulted in the theft of approximately $816,000 in assets.
According to on-chain analyst PeckShield (@PeckShieldAlert), Echo Protocol was hacked on Monad. The attacker minted 1,000 $eBTC out of thin air (valued at approximately $76.7 million), then deposited 45 $eBTC (approximately $3.45 million) into Curvance and used it as collateral to borrow roughly 11.29 $WBTC (approximately $867,700). The attacker subsequently bridged the $WBTC cross-chain to Ethereum, swapped it for $ETH, and laundered 384 ETH (approximately $821,700) via Tornado Cash.
According to Onchain Lens monitoring, Echo Protocol on Monad has been attacked. The attacker minted 1000 eBTC, worth $76.7 million, and withdrew the funds through Curvance via a previously tested attack path.As of now, the attacker has deposited 45 eBTC as collateral into Curvance and borrowed approximately 11.29 WBTC, worth $867,700; the attacker then cross-chained this portion of WBTC to Ethereum, swapped it for ETH, and transferred 385 ETH (worth approximately $818,000) to Tornado Cash. The attacker currently appears to still control a large amount of the minted eBTC.