Echo Protocol Account Compromised, $266M Stolen
- Echo Protocol compromised, prompting security overhaul.
- Users urged to avoid suspicious links.
- Immediate action needed to restore trust.
Echo Protocol reported a substantial security breach on June 14, 2025, affecting its X account and resulting in a $266 million loss from its treasury.
Echo Protocol’s security breach highlights the pressing need for enhanced cybersecurity across crypto ecosystems as significant assets are at risk.
Echo Protocol has experienced a major setback, revealing their X account and main wallet were compromised, leading to a $266 million loss. Urgent responses from their team and security experts are underway. They suspended withdrawals and announced a bounty program to recover the stolen funds. Collaboration with the X platform is ongoing to regain control of their account.
“Today, our wallet holding 2,515.648579 uBTC (valued at over $266 million) was subjected to a highly sophisticated supply chain attack and has been maliciously compromised. We have suspended withdrawals, engaged with security experts, and will publish an event review as soon as possible. A bounty program is forthcoming to aid asset recovery.” — Echo Protocol Team
The breach affected Echo Protocol’s treasury, impacting users and lowering collateralization ratios significantly. Arthur Hayes, emphasized the importance of self-custody and strong auditing. With $266 million in uBTC lost, questions about the protocol’s financial stability have arisen. Additionally, community confidence has been shaken, with developers now preparing a detailed post-mortem. The event drew parallels to the TRON DAO incident, highlighting the vulnerability of social engineering tactics.
The incident underscores the potential for similar cyberattacks in the cryptocurrency landscape. Echo Protocol’s quick response could set precedents for improved security standards across the industry. Leading figures urge proactive measures, ensuring the future stability of blockchain ecosystems amidst heightened concerns. Echo Protocol’s breach serves as a reminder of the criticality of security audits and user vigilance in avoiding suspect interactions.
