The Monad blockchain experienced a significant DeFi exploit as hackers minted 1,000 eBTC without collateral, valued at $7.645 million. However, due to the poor liquidity of eBTC, the hacker managed to convert only a small portion into other assets, ultimately securing just $860,000. The attack began at 5:21 when the Echo Protocol on Monad was compromised, allowing the hacker to mint the eBTC. By 5:22, the hacker deposited 45 eBTC into the Curvance lending protocol, borrowing 11.3 WBTC ($860,000), the maximum available. The WBTC was then converted into 385 ETH and laundered through Tornado Cash. With no liquidity in DEX pools and exhausted borrowing options, the hacker was left with 955 eBTC, which could not be liquidated. Five hours post-attack, Echo Protocol intervened by destroying the remaining 955 eBTC through a contract call, limiting the total loss to the borrowed 11.3 WBTC.