Echo Protocol On Monad Exploited For $76M in eBTC

Hacker Mints $76M in eBTC via Echo Protocol Bridge

A hacker exploited Echo Protocol's bridge on Monad on May 19, 2026, minting 1,000 $eBTC tokens valued at approximately $76.64 million. On-chain analyst @dcfgod was among the first to flag the incident, with blockchain data firm Lookonchain corroborating the details shortly after.

According to on-chain data, the attacker deposited 45 eBTC into Curvance, a multichain DeFi lending protocol, and borrowed 11.3 $WBTC against that collateral. The attacker then bridged the borrowed WBTC to Ethereum and swapped the funds for approximately 385 $ETH.

Funds Routed Through Tornado Cash, Bulk Still Unmoved

After converting to ETH, the attacker routed the proceeds through Tornado Cash in an effort to sever the on-chain trail. The tool has historically been used by hackers and protocol exploiters to obscure fund movements after malicious activity.

Despite the laundering attempt, the bulk of the stolen assets remain on-chain. The hacker still holds 955 eBTC, currently valued at around $73.2 million, meaning the vast majority of funds have not been moved since the exploit. Echo Protocol confirmed it is investigating a security incident impacting its bridge on Monad and has suspended all cross-chain transactions while the investigation is underway.

The incident adds to a growing list of DeFi exploits in 2026. DefiLlama confirmed April 2026 as the most-hacked month in crypto history, with 28 to 30 separate attacks and over $625 million in stolen funds. The Echo Protocol breach underscores the continued risk posed by cross-chain bridge infrastructure, which has become a repeated target for sophisticated attackers across the industry.

Sources:
BeinCrypto: Echo Protocol Monad Exploit, May 2026
Bitcoin.com News: DefiLlama Confirms April 2026 as Crypto's Most-Hacked Month