Hacker Mints $76M in eBTC via Echo Protocol Bridge
- Hacker Attack Incident: On May 19, 2026, a hacker exploited the Echo Protocol's bridge to mint 1,000 eBTC tokens valued at approximately $76.64 million, highlighting the vulnerabilities in cross-chain bridge infrastructure that could lead to decreased user trust.
- Funds Movement: The attacker deposited 45 eBTC into the multichain DeFi lending protocol Curvance and borrowed 11.3 WBTC against that collateral, subsequently bridging the borrowed WBTC to Ethereum and swapping it for about 385 ETH, indicating precise control over fund movements by the hacker.
- Money Laundering Attempt: After converting to ETH, the hacker routed the proceeds through Tornado Cash to sever the on-chain trail; however, the bulk of the stolen assets remain on-chain, suggesting that the hacker's laundering strategy was not entirely successful.
- Security Investigation: Echo Protocol has confirmed it is investigating the security incident affecting its Monad bridge and has suspended all cross-chain transactions, reflecting the ongoing risks faced by the DeFi sector, especially in the context of April 2026 being the most-hacked month in crypto history.
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Technical Analysis for MON
Technical Sentiment Analysis for MON (MON). As of , MON (MON) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MON stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MON is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
MON (MON) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0153 | 0.0205 | 0.0244 | 0.0295 | 0.0334 | 0.0385 | 0.0424 |
| Fibonacci | 0.0205 | 0.0239 | 0.026 | 0.0295 | 0.0329 | 0.0351 | 0.0385 |
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