Edel said it detected and contained the exploit, then stopped all of its version one contracts, which remain frozen, and warned users not to interact with them.
The team added that it had tracked the attacker’s transactions and was coordinating with exchanges, and that it had offered the attacker a white hat deal, an agreement that allows a hacker to return most of the funds in exchange for a fee and without legal prosecution, within a set period.
No depositors will suffer losses, Edel noted, and the team will absorb bad debts and restore balances one by one. It’s rolling out a version two with redesigned pricing settings aimed at blocking this type of manipulation, and promised a full technical breakdown below.
While the number is small, the method is in one of the most persistent DeFi exploit categories.
Manipulating the price a protocol reads, rather than breaking into it, ranks as the second most common smart contract vulnerability in OWASP’s Top 10 Smart Contract Vulnerabilities for 2025, and security researchers at CertiK describe Oracle price manipulation as one of the most common attack vectors in the field.
In addition to cross-chain bridges, which produced the largest single thefts of the year, including the $292 million drained from Kelp DAO in April, price manipulation is where much of the money remains, and in most of them, the code works as written.
