Bitcoin DeFi Eco Protocol, Wallet Hack Incident Involving Approximately ₩360 Billion
Summary
- Eco Protocol announced that approximately $266 million worth of Bitcoin was stolen in a hack.
- Due to the impact of the hack, the vault collateral ratio dropped to 20%, and withdrawals will be temporarily suspended for system security.
- Eco Protocol stated that asset safety is the top priority and that they will transparently disclose future developments.
Eco Protocol announced that a wallet holding about $266 million (approximately ₩364.5 billion) worth of Bitcoin (BTC) was stolen in an attack.
On the 14th (local time), Eco Protocol stated on X (formerly Twitter), "We had 2,515.648579 uBTC, which was held in Bsquared, stolen," and added, "Our team is currently investigating the issue and will release a full analysis report soon."
The statement continued, "Currently, Eco Protocol's vault collateral ratio stands at 20%, and withdrawals will be temporarily suspended from midnight (local time) for system security reasons."
Furthermore, "User asset safety remains our top priority, and we will provide transparent updates as the situation progresses."
Eco Protocol is a Bitcoin decentralized finance (DeFi) project that operates on an infrastructure based on Move.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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