Echo Protocol Hacked — Attacker Minted 1,000 eBTC Worth $76M

Part of the stolen funds was bridged to Ethereum and routed through Tornado Cash.

Echo Protocol hacked, losses exceed $76 Million

19.05.2026 - 11:55

2 min

Key points:

Echo Protocol was exploited after an attacker minted 1,000 eBTC worth around $76.7 million.
Some of the funds were bridged to Ethereum and routed through Tornado Cash to obscure transaction activity.

A new major DeFi exploit has hit the crypto market, with Bitcoin-focused Echo Protocol becoming the latest target.

The exact cause of the attack has not yet been officially disclosed. According to Onchain Labs, the attacker minted 1,000 eBTC valued at roughly $76.7 million. The hacker then used part of the funds on Curvance, depositing 45 eBTC as collateral to borrow approximately 11.29 WBTC.

Funds Bridged to Ethereum and Partially Sent Through Tornado Cash

The borrowed WBTC was bridged to Ethereum, swapped for ETH, and around 385 ETH was later routed through Tornado Cash, a service often used to obscure on-chain transactions.

Monad co-founder Keone Hon clarified that the Monad network itself was not compromised and continues operating normally. Curvance also stated that its smart contracts showed no signs of a breach. The team added that the affected market has been temporarily paused while the incident is under investigation.

THORChain loses $10.8M in hacker attack

Following the incident, the project temporarily halted trading operations and node activity.

According to Lookonchain, the attacker still controls around 955 eBTC worth more than $73 million. Echo Protocol has launched an investigation and temporarily suspended cross-chain transfers.

Following the news, the ECHO token dropped more than 12%, falling to around $0.0049.

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