BlockBeats news, on June 14, the Echo Protocol officially stated that its wallet holding 2515.648579 uBTC (currently valued at over $266 million) has suffered a highly complex supply chain attack and has been maliciously breached. The team has initiated an emergency investigation and will release an event review report as soon as possible.
Currently, the collateralization ratio of the platform's treasury has dropped to 20%. To ensure system security, all withdrawal operations will be suspended starting at midnight Eastern Time.
Echo Protocol stated that it is working closely with auditing firms and security experts to address this incident, and will announce a bounty program later to encourage informants to assist in tracking the stolen assets.
