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06:51
Echo Protocol: Monad Deployment Admin Key Compromised, Around $816,000 in Assets Affected
BlockBeats News, May 19th, Echo Protocol announced that unauthorized activity was detected in the deployment of eBTC on Monad, resulting in abnormal minting and fund loss. Initial investigations indicate that the issue stemmed from a compromised administrator key associated with the Monad deployment, with approximately $816,000 in assets confirmed to be affected. Echo stated that the Monad network itself was not compromised and is still operational. The team has regained control of the administrator key and burned the remaining 955 eBTC held by the attacker. The project team further explained: The current incident appears to be limited to the Monad deployment; No evidence has been found to suggest that the Aptos side was affected; aBTC on Aptos and eBTC on Monad are independent, non-bridgable assets; The current risk exposure on Aptos is approximately $71,000. As an additional security measure, Echo has temporarily halted the cross-chain functionality of the Monad deployment and has begun upgrading the relevant EVM bridge contracts and permission control mechanisms. Moreover, users are reminded not to engage with any unofficial claim, refund, or recovery pages.
06:50
Echo Protocol has regained control of the management key and has destroyed the remaining 955 eBTC held by the attacker.
Foresight News reported that Echo Protocol tweeted that the team has now regained control of the management keys and has destroyed the remaining 955 eBTC held by the attacker. In addition, the current exposure on Aptos is limited to approximately $71,000 in the Echo lending market and Hyperion liquidity pool, and the team has not observed any fund losses on Aptos. As a precaution, the team has fully suspended Aptos bridge operations while the review is ongoing. Echo Aptos Lending remains unaffected and has been paused for security reasons.
06:45
The divergence between volume and price in Asian chip exports has reached a record level, but this time it does not seem to signal a market peak.
According to the consultancy's proprietary Asian Chip Export Index, the export value in March surged nearly 81% year-on-year, while the export volume increased by only about 28%. Economists including Betty Wang noted in a report on Monday that although such divergence usually indicates prices may have peaked, this time "the situation seems somewhat different." Expand
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