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On Feb 29, Shido's token experienced a significant drop, plunging 94% after an exploiter managed to drain funds from a newly upgraded Ethereum staking contract. The attack resulted in the withdrawal of over 4.3 billion $SHIDO tokens, nearly half of the circulating supply, amounting to approximately $35 million. This incident has raised concerns within the cryptocurrency community regarding the security of staking contracts and the broader implications for digital asset safety.
Today, on Feb 29, Shido blockchain’s Ethereum staking contract has been exploited for ~💰$35m worth 4,353,473,223.864904 $SHIDO. This number of SHIDO tokens drained out by the exploiter happens to be around half of the current circulating token supply of the token, which is 9… https://t.co/8b9uF9z2Fy
⚠️ #Shido's token plunges 94% in 30 mins after an exploit on its #Ethereum staking contract. Over 4.3 billion tokens withdrawn by attacker, nearly half the circulating supply. $SHIDO https://t.co/Ihrl3KgfNt
Shido’s token dropped 94% after an exploiter drained funds from a staking contract. https://t.co/PpWMYJJAAr
