Tokenized Google stock inflated 7,700% in rare DeFi lending exploit
CoinDesk·
60-second summary
An attacker is inflating the value of a tokenized Google share used as collateral to about 78 times its real price, resulting in a 7,700% increase, then borrowing against it, leaving roughly $403,000 in bad debt. This rare DeFi lending exploit highlights vulnerabilities in decentralized finance lending protocols, potentially destabilizing the market and eroding investor trust.
An attacker inflated the value of a tokenized Google share used as collateral to about 78 times its real price, then borrowed against it, leaving roughly $403,000 in bad debt.