Tokenized Stock Collateral Exploit at Edel Inflates wGOOGLx Value 78-Fold, Firm Says Depositors Won’t Lose Funds

Edel disclosed a $403,000 exploit involving tokenized stock collateral and said no depositor would bear losses. According to NS3.AI, the attacker manipulated the wGOOGLx-to-GOOGLx exchange rate, inflating the collateral value of wGOOGLx to roughly 78 times its correct level. Edel said security firms produced different loss estimates because they used different measurement approaches, including bad debt, gross loss, or attacker profit.