#admin key exploit

➤ Echo Protocol's Monad deployment was exploited for $76 million due to a compromised admin key, leading to unauthorized eBTC minting. ➤ The attacker laundered a portion of the funds through Tornado Cash, while Echo Protocol has since regained control of its keys and burnt the remaining unauthorized eBTC. ➤ The incident highlights the risks associated with centralized off-chain components in DeFi, prompting Echo Protocol to pause cross-chain functionality and enhance security measures.

➤ Echo Protocol suffered a $76M exploit due to an admin key compromise, allowing unauthorized minting of eBTC. ➤ The attacker used the unbacked eBTC to borrow assets, bridge them across networks, and launder them through privacy tools like Tornado Cash. ➤ The exploit led to a sharp plunge in the ECHO token price, DeFi panic, and the protocol halting operations for an investigation.