On June 14, the official team of BTC liquidity re-pledging and yield layer Echo Protocol stated that today, a wallet containing 2515.648579 uBTC (currently valued at over $266 million) was subjected to a highly complex supply chain attack and maliciously invaded. The team has initiated an emergency investigation and will release an event review report as soon as possible.
Currently, the platform's vault collateralization rate has dropped to 20%. To ensure system security, all withdrawals will be suspended starting from midnight Eastern Time.
Echo Protocol stated that they are closely collaborating with audit institutions and security experts to handle this incident and will announce a bounty plan later to encourage informants to assist in tracking the stolen assets.
