Back Kucoin

Monad co-founder confirms network unaffected by EchoProtocol security incident.

Kucoin • May 19, 2026

Odaily Planet Daily reports: Keone Hon, co-founder of Monad, posted on X that the team has become aware of a security incident related to EchoProtocol’s eBTC. Security researchers are currently investigating the matter; the Monad network itself has not been affected and is operating normally.

Additionally, security researchers' preliminary review determined that the exploitation incident targeting EchoProtocol eBTC resulted in the theft of approximately $816,000 in assets.

The full story

This article is one source in a clustered incident — the cluster page carries the summary, timeline and every other outlet covering it.

Echo Protocol Exploit Results in $76M Loss Due to Compromised Admin Key On May 19, 2026, Echo Protocol, a Bitcoin DeFi platform, suffered a significant exploit on the Monad blockchain, leading to the unauthorized minting of 1,000 eBTC valued at approximately $76 million. The breach was attributed to a compromised admin key, allowing the attacker to mint and subsequently launder around $816,000 through Tornado Cash. The hacker deposited 45 eBTC worth $3.45 million into the lending platform Curvance, borrowed 11.29 WBTC, and converted it to ETH. Echo Protocol confirmed that the Monad network itself was not compromised, and they have regained control of the admin keys and burnt the remaining eBTC held by the attacker. The incident has prompted Echo Protocol to suspend all cross-chain transactions and enhance security measures. The attack reflects ongoing vulnerabilities in DeFi protocols, particularly concerning centralized key management. 12 sources 68

Monad co-founder confirms network unaffected by EchoProtocol security incident.

The full story

Extracted Entities

Attack Types (1)

Companies (2)