Echo Protocol Halts Withdrawals Following $266M Breach

The Echo Protocol has halted all withdrawals following a significant security breach that reportedly led to a loss of over $266 million. The company confirmed the attack, which targeted its wallet holding 2,515.65 uBTC, causing a sharp decline in collateralization and raising concerns about the protocol’s stability. Echo Protocol immediately suspended withdrawals, sought help from security experts, and pledged to release a detailed review of the incident.