Echo Protocol hits pause on its Monad bridge following an admin key exploit and the unauthorized minting of synthetic eBTC tokens.

BTCFi protocol Echo was exploited, with the attacker minting 1,000 eBTC on Monad and using it as collateral to borrow WBTC.

The Bitcoin-focused DeFi protocol suffered an attack whereby about 1,000 unauthorized eBTC $77 million were minted on the Monad blockchain