On June 14, 2025, Echo Protocol reported a sophisticated breach of its wallet, leading to a loss of 2,515.65 uBTC valued at 266 million USD. Withdrawals were immediately suspended, and a bounty program is in the works to assist in recovering these assets.
The security compromise has intensified scrutiny within the crypto space regarding the need for stronger security audits. Trading volumes of Bitcoin (BTC) have significantly declined, reflecting the market’s instability and concern for the integrity of security protocols.
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