Another Major Theft Incident in the Crypto World
Echo Protocol Suffers Supply Chain Attack, $266 Million in uBTC Stolen, Emergency Withdrawal Suspension
On June 14, the official wallet of the Bitcoin liquidity re-staking platform Echo Protocol was compromised by a highly sophisticated supply chain attack, resulting in a loss of 2,515.648579 uBTC, worth over $266 million.
The team has launched an emergency investigation and promises to release an incident review report as soon as possible.
To ensure safety, the platform's treasury collateralization ratio has been reduced to 20%, and all withdrawal operations have been suspended since midnight Eastern Time.
Echo Protocol is collaborating with auditing firms and security experts and will announce a bounty program to encourage informants to assist in recovering the stolen assets.
