Key Takeaways:
- A fake eBTC with an estimated value of $76.6 million reportedly caused the theft of the tokens via Echo Protocol.
- In the past, the hacker already stole 385 ETH and transferred a portion of it via Tornado Cash.
- This incident follows the THORChain and Verus bridge hacks and becomes the third big DeFi exploit in just four days.
Another major DeFi exploit has shaken the crypto market as Echo Protocol became the latest target in a growing wave of cross-chain and smart contract attacks. The exploit surfaced just days after hackers drained more than $21 million combined from THORChain and the Verus-Ethereum Bridge.
Echo Protocol Exploit Mints $76M in Fake eBTC
According to blockchain analytics firm Lookonchain, the hacker managed to illegally mint 1,000 eBTC, which led to the exploitation of Echo Protocol. The mints’ assets, measur...
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