Hackers Reportedly Targeted eBTC Market on Monad

Onchain analysts reported a possible exploit of Echo, a BTCFi protocol on Monad.

The attack reportedly targeted Echo’s eBTC market, with issues suspected in valuation, redemption, or cross-contract logic.

The incident underscores risks in experimental Bitcoin-linked DeFi, especially around pricing, accounting, and synchronization flaws.

It also raises broader trust concerns for BTC-derivative assets on new high-speed blockchains.