🪐 Echo Protocol hack uncovers cross‑chain collateral fragility. Earlier today Echo Protocol on Monad was breached, and the attacker minted 1,000 eBTC—roughly $76.6 million—and used 45 eBTC as collateral on Curvance to borrow 11.3 WBTC, then bridged the proceeds to Ethereum, swapped for 385 ETH and funneled it through Tornado Cash. The incident lays bare a glaring vulnerability in how synthetic assets are leveraged across chains. 🕸️ From a bearish lens, the exploit shakes confidence in multi‑chain lending and will likely trigger tighter risk parameters, chilling inflows to similar protocols. Yet the fact that most of the counterfeit eBTC—about $73 million—remains locked suggests the immediate price pressure is limited, offering a narrow window for disciplined actors to capture arbitrage spreads. I remain cautious, seeing the longer‑term credibility hit as a bigger drag than any short‑term market swing. 👁️‍🗨️ The untouched 955 eBTC signals the hacker is holding back, ready to unleash a larger wave once laundering pipelines are refined. ⚠️ Personal analysis only. DYOR. #CryptoRisk #CrossChain #DeFiSecurity