An attacker was able to get control of the Shido blockchain’s Ethereum staking contract and transfer out billions of Shido tokens, according to PeckShield.
Update Feb. 29, 11:54 AM UTC: This article has been updated to add Shido’s announcement.
The token for the layer-1 blockchain Shido dropped as much as 94% in just 30 minutes after suffering an exploit on its Ethereum-based staking contract.
Blockchain security firm PeckShield alerted its followers to the drop in a Feb. 29 X post. In a follow-up post, it explained an exploiter managed to transfer the blockchain’s Ethereum staking contract to another address with the new owner then upgrading the contract with a hidden function to withdraw staked tokens.
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Source: https://cointelegraph.com/news/shido-token-plummet-attacker-drains-staking-contract