Svmuu reported that Echo Protocol stated on X platform that it detected unauthorized activity involving eBTC on the Monad network, leading to unauthorized minting and related fund losses. Investigation indicates that the incident stemmed from a compromised admin key affecting a Monad deployment. According to current findings, approximately $816,000 in funds on the Monad network were impacted. The Monad network itself was not affected and is operating normally.
Since detecting the incident, Echo Protocol has been actively investigating potential cross-chain risk exposure, coordinating with ecosystem partners, and implementing additional preventive measures. The team has successfully regained control of the admin key and destroyed the remaining 955 eBTC held by the attacker.
Previously, Echo Protocol confirmed a security incident involving the Monad cross-chain bridge, and cross-chain transactions have been suspended.