May 19
ECHO token plunges after $76M admin key exploit hits protocol
ECHO token plunges after a $76M admin key exploit enables unauthorized eBTC minting, triggering DeFi panic, and sharp market sell-off.
➤ Echo Protocol suffered a $76M exploit due to an admin key compromise, allowing unauthorized minting of eBTC. ➤ The attacker used the unbacked eBTC to borrow assets, bridge them across networks, and launder them through privacy tools like Tornado Cash. ➤ The exploit led to a sharp plunge in the ECHO token price, DeFi panic, and the protocol halting operations for an investigation.