Prices of tokenized Google stock inflated 7,700% in rare DeFi lending exploit
An attacker inflated the value of a tokenized Google share used as collateral to about 78 times its real price, then borrowed against it, leaving roughly $403,000 in bad debt.
➤ An attacker exploited a tokenized Google stock on the Edel Finance lending protocol, inflating its collateral value by 78 times to approximately $403,000 in bad debt. ➤ The exploit targeted the wrapping mechanism of the tokenized stock (wGOOGLx), not the price oracles, which correctly reported the underlying Google share price. ➤ Edel Finance has paused its protocol, will absorb losses, and is deploying a redesigned version two system to prevent similar attacks, while also offering a white-hat settlement to the attacker.