Shido token plummets 94% in attack is profiled by BTW Media because published evidence links it to internet infrastructure, governance, operational dependencies, or market visibility.
Shido token plummets 94% in attack is tracked as a internet infrastructure institution within the internet infrastructure ecosystem.
Shido token plummets 94% in attack has public-source relevance to network operations, governance, dependency mapping, or market structure.
Shido token plummets 94% in attack has public-source relevance to network operations, governance, dependency mapping, or market structure.
Shido token plummets 94% in attack is tracked as a internet infrastructure institution within the internet infrastructure ecosystem.
Public-source signals support medium-impact monitoring for infrastructure visibility and dependency analysis.
Shido token plummets 94% in attack is profiled by BTW Media because published evidence links it to internet infrastructure, governance, operational dependencies, or market visibility.
Public-source signals support medium-impact monitoring for infrastructure visibility and dependency analysis.
| 0.90–1.00 | A | High — direct sources |
| 0.75–0.89 | A/B | Strong |
| 0.55–0.74 | B/C | Medium |
| 0.35–0.54 | C/D | Weak–medium |
| 0.10–0.34 | D | Weak signal |
| 0.00–0.09 | D | Internal monitoring |
Several public sources
- The Shido Layer 1 blockchain token experienced a staggering 94% drop within a mere 30 minutes after suffering an Ethereum-based staking contract attack.PeckShield, coming from Blockchain security firm, explained that the attacker successfully moved the blockchain’s Ethereum staking contract to another address. The new owner then upgraded the contract, adding a hidden function to withdraw the staked tokens.
- Last year, over 600 cryptocurrency-related hacking incidents happened, resulting in a $2.1 billion loss. As of January this year, 30 attacks have occurred, leading to a loss of $182.5 million.
On February 29, PeckShield notified through an X post that the Shido token had suffering 94% drop due to an attack.He also stated that the attacker successfully controled the Shido blockchain’s Ethereum staking contract and transferred billions of Shido tokens.
The attack
Following the assailant’s exploitation of the Ethereum staking contract, Shido tokens experienced a 94% decline, resulting in the transfer of billions of Shido tokens. The PeckShield report highlighted that the attacker successfully took control of the Shido blockchain’s Ethereum staking contract, and through upgrading the contract and adding a hidden function, the attacker withdrew over 4.3 billion Shido tokens, nearly half of the total supply.
Shido operates as a Layer 1 proof-of-stake blockchain yet to launch its mainnet. SHIDO is an ERC-20 token based on Ethereum, stakable on the project’s decentralized exchange for an 8% annual yield.
Also Read:Sports Illustrated moves NFT tickets to Avalanche blockchain
Current insecurity situation
The article mentions over 600 cryptocurrency-related hacking incidents in 2023, resulting in a $2.1 billion loss, showing a nearly 30% decrease from 2022. In January 2024, 30 attacks occurred, leading to a loss of $182.5 million. February also witnessed a series of thefts, including PlayDapp losing $290 million.
At A Glance
- Name: Shido token plummets 94% in attack
- Type: Internet infrastructure institution
- Base: Global
- Profile focus: Institution
What It Does
- Public records support monitoring of its role, services, and key relationships.
Why It Matters
- Public-source signals support medium-impact monitoring for infrastructure visibility and dependency analysis.
- Operational criticality: Medium
- Time horizon: Next quarter
What To Watch
- Monitoring focuses on verified service continuity, governance changes, and relationship signals.
Track verified source updates, role changes, and current public evidence.
Public-source signals support medium-impact monitoring for infrastructure visibility and dependency analysis.
Longer-term relevance depends on verified operating, policy, and relationship changes.
Member Briefing
Deeper Profile Context
Login is required to unlock the full profile briefing and source notes.
Only for Strategy Circle
Strategic Circle Access
Open to all readers. Unlock profile briefings after joining and logging in.
Join Strategic CircleOnly for Leadership Alliance
Leadership Alliance Access
For owners and management of IP-holding companies. Login required to unlock.
Join Leadership Alliance
