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EDEL
1 months agoNews Editor

Two addresses accumulated about $146,000 worth of EDEL over the past four days

Lookonchain said EDEL posted a sharp rise after Edel Finance joined the DTCC Digital Asset Solutions Industry Working Group. At the same time, on-chain activity showed continued buying from large holders. One address, ezhomi.base.eth, bought 5.33 million EDEL over four days, valued at $98,000. Another address purchased 2.56 million EDEL over the past two days, worth $48,000. Based on the disclosed figures, the two addresses bought a combined 7.89 million EDEL valued at about $146,000 over the past four days. The moves were reported by Odaily in a brief market update focused on whale activity.

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Two addresses accumulated about $146,000 worth of EDEL over the past four days
Edel Finance
3 months agoNews Editor

Edel Finance Loses $403K in wGOOGLx Price Manipulation Attack; Team Bears Bad Debt, Aims to Resume Withdrawals in 48 Hours

Lending protocol Edel Finance suffered a price manipulation attack exploiting its wGOOGLx collateral mechanism, resulting in approximately $403,000 in bad debt. The team has paused all V1 contracts and plans to restore normal operations, including withdrawals, within 48 hours. Users will face no losses as the team will absorb the bad debt and restore affected deposits at a 1:1 ratio. The attacker netted about $204,000 through the exploit. Edel has tracked the on-chain trail, is coordinating with exchanges, and has offered a white-hat bounty to the attacker. The incident highlights the vulnerability of collateral pricing reliant on a single asset's internal balance.

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Edel Finance Loses $403K in wGOOGLx Price Manipulation Attack; Team Bears Bad Debt, Aims to Resume Withdrawals in 48 Hours
Edel Finance
3 months agoNews Editor

Edel Finance Attack Aftermath: Team Absorbs $403K Bad Debt, Plans to Resume Withdrawals Within 48 Hours

Lending protocol Edel Finance has disclosed the aftermath of a recent attack, stating that the team will absorb approximately $403,000 in bad debt resulting from the exploit. The protocol plans to resume normal operations, including withdrawals, within 48 hours. The attacker exploited a vulnerability in the wGOOGLx collateral price mechanism, which depended on its GOOGLx balance, stealing roughly $204,000. Edel's team has tracked the attacker's transactions, coordinated with exchanges and ecosystem partners, and issued a formal white hat settlement offer demanding the return of remaining funds in exchange for a bug bounty. User funds will not be affected.

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Edel Finance Attack Aftermath: Team Absorbs $403K Bad Debt, Plans to Resume Withdrawals Within 48 Hours