CoinWorld News: Tokenized Google stock surged 7,700% in a rare DeFi lending vulnerability. Tokenized stock trading platform Edel Finance suspended its lending protocol on Tuesday after an attacker exploited its pricing mechanism, which caused the borrowed collateral to be overvalued to approximately 78 times its real value, resulting in about $403,000 in bad debt. The Edel team said it has identified and contained the vulnerability affecting Edel lending, involving manipulation of the exchange rate between Wrapped XStocks (wgooglx and googlx), which led to distorted valuations of the wgooglx collateral. Edel has paused all Version 1 contracts, and users were warned not to interact with them. The team traced the attacker’s transactions and coordinated with exchanges, providing a white-hat settlement plan that would allow the attacker to return most of the funds within a set time frame in exchange for a fee and legal non-prosecution. All depositors will not suffer losses; the team will absorb the bad debt and restore balances one by one.

GOOGLX1.00%

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Mirror-FinishTeacupWith

· 4h ago

The exchange rates of both wgooglx and googlx can be manipulated. Was cross-validation not implemented when designing this architecture?

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GateUser-0c86a4c9

· 4h ago

In plain terms, a white-hat plan is basically giving hackers a way out—paying 400,000 for peace of mind; traditional finance looks at it and just shakes its head.

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PocketAlphaPia

· 6h ago

Tokenized stocks sound high-end, but the underlying issue is still the same old oracle problem—same old wine in a new bottle.

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TableNextToJupiter

· 6h ago

If the attacker actually returns the money, this plot is more surreal than a TV drama. Waiting for the follow-up.

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RouterWhisperer

· 6h ago

Suspend the contract, warn users not to interact — the classic post-incident damage control trifecta.

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DustyAirdropper

· 6h ago

7700% That number literally made my eyes pop—so the DeFi pricing mechanism is really just made of paper.

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Tokenized Google stock price surges 7700% in rare DeFi lending exploit

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