#unauthorized minting

[rwatimes]

Syscoin Pauses Bridge After Attacker Mints 5 Billion Unauthorized SYS Tokens

Syscoin Pauses Bridge After Attacker Mints 5 Billion Unauthorized SYS Tokens: Syscoin halted its cross-chain bridge after an exploit minted 5 billion.

➤ Syscoin has paused its cross-chain bridge following an exploit that resulted in the unauthorized minting of approximately 5 billion SYS tokens. ➤ An attacker exploited a validation flaw in the bridge relay path, leading to the creation of tainted tokens that were then split into two wallets. ➤ Syscoin is working on a fix and coordinating with exchanges to prevent the unauthorized tokens from impacting open markets, while SYS experienced a price drop.

[rwatimes]

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.