A significant security breach occurred in the cryptocurrency sector, involving the Shido token ($SHIDO). An exploiter managed to drain a substantial amount of funds, including $2.4M in Ethereum (ETH) and $1.2M in Shido tokens, from a newly upgraded staking contract. This incident led to a dramatic 94% drop in the value of $SHIDO. The exploiter was able to insert a hidden withdrawToken() function during an unauthorized upgrade of the StakingV4Proxy contract. This function was then used to withdraw all 4,353,473,223.864904 $SHIDO tokens. The funds were initially moved across different platforms, starting from a bridge and then through the layerswap bridge, complicating the traceability of the stolen assets.