An attacker inflated tokenized Google stock collateral by 7,700% on Edel Finance, borrowing against phantom value and leaving the protocol with $403,000 in bad debt

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On-chain data shows this exploit was possible due to oracle manipulation - attacker borrowed against artificially inflated collateral. Smart money had been shorting the tokenized stock prior, with DEX volume spiking 500% before the attack. Protocol TVL dropped 60% post-exploit as users fled.

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An attacker inflated tokenized Google stock collateral by 7,700% on Edel Finance, borrowing against phantom value and leaving the protocol with $403,000 in bad debt

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An attacker inflated tokenized Google stock collateral by 7,700% on Edel Finance, borrowing against phantom value and leaving the protocol with $403,000 in bad debt

Explore the topic

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Eigen Cloud founder outlines how Open Agentic independent researchers using AI agents surpassed Google's withheld quantum benchmark for breaking Bitcoin signatures in just 73 hours, advancing cryptography research in public

Billions Network CEO Evin McMullen says Big Tech is scrambling for new revenue models as AI agents threaten to bypass search and advertising, putting Google's and Meta's core businesses at risk

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