Echo Protocol: Monad Deployment Admin Key Compromised, Around $816,000 in Assets Affected

On May 19, Echo Protocol announced unauthorized activity was detected in its eBTC deployment on Monad, leading to abnormal minting and fund losses. Initial investigations trace the issue to a compromised administrator key tied to the Monad deployment, with approximately $816,000 in assets confirmed affected. Echo clarified the Monad network itself wasn’t hacked and remains fully operational. The team has since regained control of the admin key and burned the remaining 955 eBTC held by the attacker. The project team further noted: • The incident is limited exclusively to the Monad deployment • No evidence has linked the Aptos side to impacts • aBTC on Aptos and eBTC on Monad are separate, non-bridgable assets • Current risk exposure on Aptos stands at roughly $71,000 As an extra security measure, Echo has temporarily paused cross-chain operations for its Monad deployment and started upgrading relevant EVM bridge contracts and permission control mechanisms. The team also warned users to avoid any unofficial pages claiming to offer refunds, asset claims, or recovery support.