Crypto Game
  • Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News

    Cryptocurrency Markets Face $212M Liquidation Amidst Volatility

    Samourai Wallet Founders to Plead Guilty in Federal Case

    Bitcoin Drops After U.S. Imposes Tariffs on India

    Smarter Web Company Acquires 225 BTC for Treasury Growth

    Smarter Web Company Reaches 2,000 BTC Treasury Milestone

    Michael Saylor’s Strategy Acquires 21,021 Bitcoin for $2.46 Billion

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar

    The Ether Machine’s 15,000 ETH Purchase Claims Lack Confirmation

    Ether Machine Purchases 15,000 ETH, Boosts Ethereum Holdings

    Ethereum Targets $5,400 Amid Growing Institutional Interest

    SEC’s New Policy Signals XRP ETF Approval Potential

    VanEck Predicts Solana Could Reach $3,000 by 2030

    Nasdaq Delists Argo Blockchain Due to Stock Performance

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

Echo Protocol Halts Withdrawals After $266M Security Breach

Solomon M. by Solomon M.
June 15, 2025
in Latest News
Key Points:
  • Echo Protocol faces a $266 million loss from sophisticated attack.
  • Withdrawals suspended due to compromised funds.
  • Security and auditing firms engaged for recovery.
echo-protocol-security-breach-leads-to-major-losses
Echo Protocol Security Breach Leads to Major Losses

The breach matters as it highlights vulnerabilities in crypto protocols, sparking expert calls for better risk management across the industry.

The Echo Protocol team reported the breach, specifying the compromised amount as 2,515.65 uBTC, equating to approximately $266 million. They swiftly halted withdrawals, engaged security experts, and plan to launch a bounty program for asset recovery.

As a response, experts have been closely analyzing the protocol’s technical vulnerabilities. Arthur Hayes, an industry leader, emphasized the importance of self-custody and rigorous auditing to prevent such incidents. The lack of C-suite recognition suggests a team-based leadership approach during crises.

“Any time a core protocol gets hit this hard, it’s a wake-up call to all in the ecosystem: self-custody and redundant auditing remain paramount, no matter the innovation curve.” — Arthur Hayes, Investor and former CEO of BitMEX

Markets anticipate negative impacts following the drop in Echo Protocol’s collateral ratio, which plummeted to 20%. This could trigger insolvency risks and unsettle stakeholder confidence, affecting the broader crypto industry. No immediate impacts on primary cryptocurrencies like ETH or BTC were noted.

The breach underscores the need for improved security measures, drawing comparisons with previous incidents like the Terra collapse. Regulatory bodies have not yet issued public responses, but the situation calls for potential regulatory reviews to mitigate systemic risks and introduce robust protection mechanisms for stakeholders.

The attack may lead to heightened appraisal of existing security practices in the crypto sector. The incident could also prompt tighter regulations and adoption of advanced technology to mitigate future risks. As previous DeFi incidents illustrate, sustained community vigilance and proactive auditing remain crucial.

Disclaimer:

The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions.

Previous Post

Echo Protocol Suspends Withdrawals After $266M Breach

Next Post

Binance Chain Surpasses Solana in Memecoin Volume

Solomon M.

Solomon M.

Related Posts

Crypto Market Sees $212 Million Liquidated in Volatile Hour

by Solomon M.
July 31, 2025

Over $212 million in crypto positions liquidated in response to Bitcoin and altcoin volatility.

Peter Schiff Criticizes Stablecoins’ Impact on Treasury Demand

by Solomon M.
July 30, 2025

Peter Schiff warns that stablecoins won't increase U.S. Treasury demand amid inflation.

Federal Reserve Maintains Interest Rates Amid Economic Uncertainty

by Solomon M.
July 30, 2025

The Federal Reserve holds interest rates steady, citing economic uncertainties affecting markets and cryptocurrencies.

Samourai Wallet Founders to Plead Guilty in Crypto Case

by Solomon M.
July 30, 2025

Samourai Wallet founders, involved in crypto case, to plead guilty for money laundering charges.

JPMorgan Partners with Coinbase for Crypto Purchases

by Solomon M.
July 30, 2025

JPMorgan and Coinbase team up, enabling cryptocurrency buys via Chase credit cards.

JPMorgan Partners with Coinbase for Crypto Credit Card Access

by Solomon M.
July 30, 2025

JPMorgan's partnership with Coinbase allows Chase credit card users to buy crypto, marking a significant step in traditional finance embracing...

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.