Echo Protocol faced a significant incident affecting its X account, leading to a loss of $266 million from its treasury.
Incident Overview
On June 14, 2025, Echo Protocol reported a major security breach that compromised their X account. The incident resulted in a $266 million loss from their treasury, attributed to a sophisticated supply chain attack.
Team Response and Measures
The Echo Protocol team promptly responded by suspending withdrawals and announcing a bounty program for the recovery of stolen assets. They are currently collaborating with the X platform to regain control of their account. The team stated, "Today, our wallet holding 2,515.648579 uBTC (valued at over $266 million) was subjected to a highly sophisticated supply chain attack."
Impact on Users and the Crypto Industry
The incident negatively impacted Echo Protocol's treasury, raising concerns about the protocol's financial stability following the $266 million loss. Increased worries about security within the crypto industry have also emerged, as the attack drew parallels to the TRON DAO incident, highlighting vulnerabilities to social engineering tactics.
The Echo Protocol event serves as a reminder of the importance of security and user vigilance in avoiding suspicious interactions within the crypto industry.
