$ADA

According to Block Beats, Protocol Echo, a platform for reinvesting Bitcoin liquidity and yield layers, reported a sophisticated attack on its supply chain in its wallet containing 2,515.648579 micro Bitcoins, valued at over 266 million dollars. The wallet was compromised maliciously, leading the team to initiate an urgent investigation and commit to releasing a detailed report on the incident soon.

In response to the attack, the treasury collateral rate of the platform was reduced to 20%. To ensure the security of the system, all withdrawal operations were suspended from midnight Eastern Time.

Protocol Echo is actively cooperating with auditing firms and security experts to resolve this situation. Furthermore, the platform plans to announce a rewards program to encourage individuals with information that could help track down the stolen assets.