ChainCatcher news: Bitcoin liquidity re-staking and yield layer Echo Protocol officially stated that today its wallet holding 2,515.648579 uBTC (currently valued at over 266 million USD) was subjected to a highly sophisticated supply chain attack and has been maliciously compromised. The team has initiated an emergency investigation and will release a post-incident report as soon as possible. Currently, the platform's treasury collateralization ratio has dropped to 20%. To ensure system security, all withdrawals have been suspended starting from midnight Eastern Time. Echo Protocol stated that it is working closely with auditing firms and security experts to handle this incident and will announce a bounty program later to encourage informants to assist in tracking the stolen assets.

ChainCatcher news: The official statement from Echo Protocol, a Bitcoin liquidity re-staking and yield layer, indicated that today a wallet holding 2,515.648579 uBTC (currently valued at over 266 million USD) was subjected to a highly sophisticated supply chain attack and has been maliciously compromised. The team has initiated an emergency investigation and will release a post-incident report as soon as possible.

Currently, the platform's treasury collateralization ratio has dropped to 20%. To ensure system security, all withdrawal operations have been suspended starting from midnight Eastern Time.

Echo Protocol stated that it is working closely with auditing firms and security experts to handle this incident and will announce a bounty program later to encourage insiders to assist in tracking the stolen assets.

Echo Protocol: Official wallet holding over 266 million USD uBTC was attacked, all withdrawal operations will be suspended