$ADA

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

In response to the attack, the platform's treasury collateral rate dropped to 20%. To ensure the safety of the system, all withdrawals were suspended as of midnight Eastern Time.

The Echo Protocol is actively collaborating with auditing firms and security experts to address the situation. Additionally, the platform plans to announce a reward program to encourage individuals with information to help trace the stolen assets.