Tokenized Google stock inflated 7,700% in rare DeFi lending exploit
2026-07-01 13:35:39
Edel Finance paused its Edel Lending protocol after an attacker inflated the value of a tokenized Alphabet Google share used as collateral by manipulating the wrap mechanism between GOOGLx and wGOOGLx, then borrowed against the phantom collateral, leaving about $403,000 in bad debt. The token was mispriced at roughly 78 times its real value even though Chainlink oracles showed the correct Google share price of around $357, according to CoinDesk. Edel said v1 contracts are frozen, the team will absorb losses and restore balances one for one, and it is deploying a redesigned v2.
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