{"id":3211,"date":"2026-05-19T21:18:14","date_gmt":"2026-05-19T21:18:14","guid":{"rendered":"https:\/\/blog.coinsignals.net\/?p=3211"},"modified":"2026-05-19T21:18:14","modified_gmt":"2026-05-19T21:18:14","slug":"echo-token-plunges-after-major-echo-protocol-security-breach","status":"publish","type":"post","link":"https:\/\/blog.coinsignals.net\/index.php\/2026\/05\/19\/echo-token-plunges-after-major-echo-protocol-security-breach\/","title":{"rendered":"ECHO Token Plunges After Major Echo Protocol Security Breach"},"content":{"rendered":"\n
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Echo Protocol suspended cross chain transactions as investigators worked to assess the large scale exploit.<\/p>\n\n\n\n

Bitcoin focused DeFi platform Echo Protocol suffered a major exploit on Monday, becoming the latest crypto project targeted in a string of security breaches affecting the decentralized finance sector this month.<\/p>\n\n\n\n

The incident was first highlighted by pseudonymous crypto commentator DCF GOD on X at approximately 5:55 p.m. ET.<\/p>\n\n\n\n

At this stage, the precise cause of the exploit has not been officially confirmed.<\/p>\n\n\n\n

Details of the Echo Protocol Attack<\/strong><\/p>\n\n\n\n

Research shared by Onchain Labs suggests the attacker allegedly minted 1,000 eTC tokens valued at around $76.7 million before exploiting what investigators described as a previously tested attack path connected to Curvance.<\/p>\n\n\n\n

According to the findings, the exploiter deposited 45 eTC worth roughly $3.45 million into Curvance as collateral and then borrowed approximately 11.29 WBC valued at about $867,700.<\/p>\n\n\n\n

The stolen WBC was reportedly bridged to Ethereum and later swapped into ETH. Around 385 ETH, estimated to be worth roughly $818,000, was eventually transferred to Tornado Cash.<\/p>\n\n\n\n

Later, Keone Hon clarified that the Monad network itself was unaffected by the exploit and continues to function normally.<\/p>\n\n\n\n

Curvance also released a statement saying its smart contracts showed no evidence of compromise. The platform explained that its fully isolated market structure prevented the issue from affecting other markets. However, the impacted market was paused temporarily while investigations continue alongside ecosystem partners.<\/p>\n\n\n\n

Blockchain monitoring platform Lookonchain reported that the attacker still controls approximately 955 eTC valued at more than $73 million.<\/p>\n\n\n\n

Meanwhile, Echo Protocol confirmed that it is actively investigating the incident and has temporarily halted all cross chain transactions.<\/p>\n\n\n\n

ECHO Token Falls More Than 12 Percent<\/strong><\/p>\n\n\n\n

News of the exploit triggered heavy selling pressure on the ECHO token, which dropped more than 12 percent following the incident.<\/p>\n\n\n\n

At the time of writing, the token was trading near $0.0049.<\/p>\n\n\n\n

The Echo Protocol exploit came shortly after two other major crypto security breaches within a four day period. These included attacks on THORChain, where more than $10 million was reportedly stolen, and the Vers Ethereum Bridge exploit, which resulted in losses of approximately $11.5 million.<\/p>\n\n\n\n

With the Echo incident included, the total number of crypto related security breaches recorded in May has now risen to 14.#crypto#cryptonews https:\/\/coinsignals.net<\/a> https:\/\/t.me\/coinsignalpublic<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Echo Protocol suspended cross chain transactions as investigators worked to assess the large scale exploit. Bitcoin focused DeFi platform Echo Protocol suffered a major exploit on...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3211","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/comments?post=3211"}],"version-history":[{"count":1,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3211\/revisions"}],"predecessor-version":[{"id":3213,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3211\/revisions\/3213"}],"wp:attachment":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/media?parent=3211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/categories?post=3211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/tags?post=3211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}