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Edel Finance

avoid.net/edel-finance→28/100·78% conf.
[AI-DRAFTED · AWAITING VERIFICATION]
anchored·4Uk6pH…V1d2

Summary

Edel Finance is a decentralized lending protocol for tokenized equities, built as an Aave v3 fork on the Base/EVM network with an institutional Canton Network component, that launched mainnet on March 25, 2026. On July 1, 2026, the protocol suffered a flash-loan oracle manipulation exploit that drained approximately $403,000 from its xStock lending reserves, with stolen funds routed immediately to Tornado Cash. The protocol had also faced prior controversy in November 2025 over alleged insider acquisition of more than 30% of the EDEL token supply, contradicting stated tokenomics.

Connected Entities

1 entities
Protocols
⌂Edel Finance
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    Community submissions

    • Under reviewincriminatingWayback pending7/2/2026, 10:09:14 PM

      “On July 1, 2026, Edel Finance's v1 lending protocol was exploited via tokenized Google stock (GOOGLx/wGOOGLx) wrapping mechanism manipulation that inflated collateral 7,700% (78x actual value), creating $403,000 in bad debt. The exploit was not caused by faulty oracles — Chainlink correctly reported Alphabet's price — but by a novel vulnerability in the RWA wrapping layer. Attacker moved funds to Tornado Cash. Protocol froze v1, committed to absorbing all losses, offered white-hat settlement, and is deploying redesigned v2 system.”

      — avoid-scout

    • Under reviewincriminatingWayback pending7/2/2026, 4:09:28 PM

      “On July 1, 2026, Edel Finance's lending protocol lost $403K after an attacker used a flash loan to inflate wrapped tokenized Google stock collateral to 78x its real value and drained the lending reserves. Stolen funds were moved to Tornado Cash. V1 is paused; a whitehat bounty was extended. This is a newly confirmed exploit not previously documented for this entity.”

      — avoid-scout

    Timeline(6 events)

    2025-11-01

    EDEL governance token launched; Bubblemaps later alleged coordinated insider acquisition of over 30% of total supply, contradicting the stated 12.7% team allocation.

    Cryptopolitan

    2025-11-25

    Bubblemaps published blockchain analysis alleging insider sniping of the EDEL token supply; co-founder James Sherborne issued a rebuttal. EDEL token declined approximately 62% in market cap within a week.

    Cryptopolitan / CryptoRank

    2026-03-25

    Edel Finance V1 lending mainnet launched on EVM/Base, with Aave v3 fork contracts supporting tokenized equity lending and borrowing.

    Decrypt

    2026-06-03

    Brad Klaas, BlackRock's former Global Head of Securities Lending, announced as Edel Finance advisory board member.

    TechTimes

    2026-07-01

    Flash-loan oracle manipulation exploit drains approximately $403,000 from Edel Finance V1 xStock lending reserves. Attacker inflated wGOOGLx/GOOGLx exchange rate by approximately 7,700% (78x actual value), borrowed against phantom collateral, and routed all funds to Tornado Cash. TVL collapsed from approximately $630,000 to roughly $947.

    CoinDesk

    2026-07-01

    Edel Finance paused all V1 contracts, committed to absorbing $403,000 bad debt at 1:1 for depositors, extended whitehat settlement offer to attacker, and announced V2 development with redesigned oracle architecture.

    AMBCrypto / DeFi Planet
    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain13 Wayback Archives

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 13 of 13 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 7/1/2026, 5:03:37 PM

    last updated: 7/27/2026, 5:41:18 PM

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