Echo Protocol: Over $266 million uBTC official wallet attacked, all withdrawal operations will be suspended

ChainCatcher Message, Bitcoin Liquidity Re-staking and Yield Layer Echo Protocol officially stated that today its wallet holding 2515.648579 uBTC (currently valued at over 266 million USD) has encountered a highly sophisticated supply chain attack and has been maliciously compromised. The team has initiated an emergency investigation and will release an event review report as soon as possible.

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

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