By Isaac • July 1, 2026 9:19 am •
Edel Finance halted its tokenized-stock lending protocol on July 1 after an attacker manipulated the pricing of a wrapped Google-stock token and drained value against inflated collateral.
The exploit left the protocol with roughly $403,000 in bad debt.
Trending: Tucker Carlson: I Was Wrong About Islam, It’s Great
Nobody hacked Google or Alphabet. The underlying Nasdaq shares were never touched.
The break happened inside a DeFi contract, where the exchange rate between a wrapped tokenized stock and its unwrapped version was pushed far out of line.
Edel says it paused all V1 contracts, told users to stop interacting with the protocol, and will absorb the bad debt while restoring affected depositor balances 1:1.
An Update from the Edel Team
Earlier today, Edel identified and contained
Continue reading
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!