The Shido blockchain, a layer-1 proof-of-stake project, has been hit by an exploit that saw billions of its native token, Shido, siphoned away.
This incident led to the Shido token plummeting by 94% in value within just 30 minutes.
Over 4.3 Billion Tokens Lost in Exploit
According to reports from blockchain security firm PeckShield, the attack resulted in the loss of over 4.3 billion Shido tokens. This accounted for nearly half of its circulating supply, which had a value of approximately $35 million before the price collapse.
Hi @ShidoGlobal There is a sudden owner transfer to 0x1982. The new owner immediately upgrades the StakingV4Proxy contract with a hidden withdrawToken() function. This hidden function is then called to withdraw all 4,353,473,223.864904 $SHIDO.
Here are related txs:
– owner… https://t.co/TZ6oMDGwMG pic.twitter.com/VGZtyg9PEf
— PeckShield Inc. (@peckshield) February 29, 2024
The exploit was first brought to light by PeckShield, who alerted its followers in a
We współpracy z: https://cryptopotato.com/heres-why-the-shido-token-crashed-94-despite-the-ongoing-market-rally/
